Finance Minister (and PM) Anwar Ibrahim must now explain why Bank Negara reserves fell RM 2 Billion or 3% in just a fortnight twice under his watch as FM , in October 1995 and February 1996 -Anwar refused to do so in 1996

 by Ganesh Sahathevan 


              In 2017 Anwar said that it would be "unjust" to exclude him from the then BNM  forex RCI



Bank Negara suffered two significant losses of its reserves in 1995 and 1996, when the Minister For Finance was then, as it is now the newly appointed Foreign Minister (and Prime Minister), Anwar Ibrahim' 

Bank Negara reported, in the fortnightly reports of its reserves,  in October 1995 and  February 1996 ,  a loss of reserves of approximately  RM  2  Billion  or about 3 per cent of its total reserves during the reporting period.

This writer questioned Anwar Ibrahim about that loss, but received no answer to the question. The usual lecture on Bank Negara's statutory role was provided, and the question deflected. He was also quick to say that there were no FOREX trading losses. 

Anwar is again  Finance Minister, he ought to provide answers to these losses which quite likely led to  the collapse of the  Ringgit during the Asian. Financial Crisis of 97-98.


END

Comments

Post a Comment

Popular posts from this blog

"Not new or worthy of consideration" : WA Corruption & Crime Commissioner confirms but dismisses Anne Azza Aly 's referring queries about PAVE, her work to Malaysia

Image
by Ganesh Sahathevan       John McKechnie The issues raised on my related RealpoltikAsia blog in the posting:  ALP's Anne Aly's Phoenix Consulting of Dubai provides covert intel training-Who does she report to in Dubai, and then there is the matter of Malaysia....... were brought to the attention of The Hon John McKechnie QC,the current Commissioner, WA Corruption and Crime ,given the security implications that arise from the connections between PAVE and one David (Dave) Allen, currently Assistant Director Intelligence,WA CCC. McKechnie's response is as follows: Thank you for the email. I am the Corruption and Crime Commissioner. I will decide if and when Mr Allens security clearance should be reconsidered but nothing in this email is either new or worthy of consideration. The Hon John McKechnie QC Readers have now confirmation from no  less a personage than the WA CCC Commissioner himself, a former judge and QC,of the fact of Aly's Dubai connection, and her referring  
Read more

If Damien Tudehope's COVID hotel quarantine fee statements are correct, SLHD revenue reported in financial statements signed by former CEO Teresa Anderson is overstated, and false

Image
 by Ganesh Sahathevan                     Tough talking Damien Tudehope may not have the power to impose th.  bulk of his quarantine fee, if any Readers will recall that former NSW Police Commissioner Mick Fuller (now a PwC partner) said in his notice that Revenue NSW " will be charging a mandatory quarantine fee". Readers will also recall that the rormer NSW Minister For Financial Services, Damien Tudehope insisted that the quarantine fees charged by Sydney Local Health District, pursuant to the NSW Health Services Act include charges for police security. However, there is nothing  in the SLHD's financial statements for the relevant periods (see links below) to reflect any payment from the COVID quarantine fee revenue being made over to NSW Police. SLHD's revenue must then have been overstated, by the CEO concerned Teresa Anderson.  SLHD Financial Statements https://www.health.nsw.gov.au/annualreport/Publications/2020/slhd.pdf https://www.health.nsw.gov.au/annualr
Read more

Strata managers' aversion to contact with tenants can leave strata managers exposed to personal liability

Image
 by Ganesh Sahathevan      Advice for living in, or buying into, a strata community Strata managers are employed to manage strata schemes which are often home to renters as well as owners. However, in evasion of that which they are paid to do there are instances where strata managers have attempted  to evade their duties by refusing to  deal with tenants.   Even this writer can recall an instance where the strata manager warned that it was against the law for tenants to contact him directly.  The instances where strata managers have refused to deal with tenants occur when the issues raised concern fairly pedestrian maintenance issues, for example blocked plumbing and the like. Having said that, tenants do actually have a legal right to a great many things, including being informed (and presumably make representations) when strata schemes consider re-development. Strata managers who seek to stand in place of strata committees  are even more exposed to liability for the loss and and dam
Read more