Forex scandal: Lim Kit Siang’s and Tony Pua Kiam Wee’s silence is deafening

 |Feb 18, 2017
Lim Kit Siang and his "financial tutor" Tony Pua Kiam Wee have not supported the special task force to probe the forex scandal that took place under former Premier Mahathir Mohamad;s watch.
Lim Kit Siang and his “financial tutor” Tony Pua Kiam Wee have not supported the special task force to probe the forex scandal that took place under former Premier Mahathir Mohamad;s watch.

I am amused and bewildered by Lim Kit Siang’s and Tony Pua Kiam Wee’s deafening silence regarding the special task force that was going to be set up to lay down the parameters for the Royal Commission of Inquiry (RCI) to investigate Bank Negara’s US$10 billion loss in 1992.

For 25 years, Kit Siang was like a dog with a bone that would never let the issue go.

Now he acts like the cat has got his tongue.

Tony Pua, on the other hand, is always on the prowl to “cari pasal” (pick a quarrel) and any small issue is blown out of proportion like the world was about to end.

Now we are not hearing a peep from him and he is suddenly deaf, dumb and blind.

Their hypocrisy is so thick you can slice it with a knife.

I am also bewildered that Malaysians cannot see through this facade.

1MDB - Forex Scandal

RCI for 1MDB not necessary

1MDB is a company. No doubt it started operations with RM1 million in paid-up capital from the Terengganu government.

But from then on it conducted its business using bank loans and not using government money.

1MDB is not a government body but a government-linked company (GLC) with its own board of directors, who are answerable to the shareholders.

Bank Negara, however, is a government agency.

Its money comes from Parliament and when it lost RM44 billion in 1992 it had to get money from the government, which were funds Parliament has to approve.

Furthermore, 1MDB is a going concern.

As a going concern, it has businesses and ongoing projects which generate income.

1MDB has not been closed down.

Malaysians are shocked with the deafening silence of self-proclaimed anti-graft crusaders - Lim Kit Siang (right) and Tony Pua Kiam Wee - over the federal government's decision to form a special task force to probe the multi-billion forex scandal that happened under former Premier Mahathir Mohamad's watch.
Malaysians are shocked with the deafening silence of self-proclaimed anti-graft crusaders – Lim Kit Siang (right) and Tony Pua Kiam Wee – over the federal government’s decision to form a special task force to probe the multi-billion forex scandal that happened under former Premier Mahathir Mohamad’s watch.

Forex money gone missing into thin air

In Bank Negara’s case, however, the RM44 billion is gone and will never be seen again.

More importantly, we know what happened to 1MDB and there are numerous reports regarding the matter.

We do not, however, know what happened in the forex losses matter, who was responsible, and what was the actual amount lost.

That is why we need the RCI to find out.

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Raja Sara Petra is a MO reader and a political commentator. Raja Sara understands that every Malaysian, like the three generations of her family before her, must do their bit for Malaysia. Although she was from what can be considered as an elite family, she empathises with the difficulties most Malaysians have to endure in their daily lives.