Forex US$10 billion loss: Nor Mohamed gives statement to task force


PUTRAJAYA: Former finance minister II Nor Mohamed Yakcop has given a statement to the special task force investigating Bank Negara Malaysia’s (BNM) foreign exchange (forex) losses in the 1990s.

Nor Mohamed, who is Khazanah Nasional Berhad deputy chairman, arrived at the finance ministry here at 3.25pm today. He was seen leaving the compound about 45 minutes later.

Attempts to get his comments on the meeting with the task force were futile as he only smiled at members of the press who were gathered at the Federal Treasury Building before entering a vehicle.

Nor Mohamed served in BNM from 1968 to 2000. He also assumed the post of BNM adviser from 1989 to April 1994, and BNM special adviser from September 1998 to April 2000 to advise the governor on matters pertaining to financial policies.

On May 15, 2000, he was appointed as special economic adviser to then-prime minister Dr Mahathir Mohamad. In this role, Nor Mohamed was given the task of restructuring corporate Malaysia after the 1998 crisis.

The task force, chaired by former chief secretary to the government Mohd Sidek Hassan, was set up to probe the forex loss of US$10 billion (approximately RM44 billion) incurred by the central bank between 1991 and 1993.

Sidek said all the individuals with links to the case had come forward to give their statements.

“We have called those people whom we need to call,” he said when asked whether there were still other individuals who had yet to be called to give statements on the case.

Asked further on whether all individuals had come forward, Sidek nodded and said “yes” before entering his car.

Among the individuals who have come forward include former finance minister and PKR de facto leader Anwar Ibrahim, and DAP supremo Lim Kit Siang.

In January, former BNM assistant governor Abdul Murad Khalid claimed the central bank had lost billions of ringgit in forex dealings but there was no investigation to determine who was responsible.

The cabinet on Feb 15 agreed to set up the special task force to probe into the losses.

Prior to that, Sidek was quoted as saying that the special task force would present its findings to the cabinet in June. Bernama