BNM RM32b forex scandal
Total loss to country: RM32b
- equivalent to 15.9% of Malaysia's economy size of RM201.7b in year 1992
- equivalent to 62.7% of Malaysia's total FOREX reserves of RM51b in year 1992
- total recovery = nothing, no asset to show for.
- total benefit to country = nothing
- action taken: RCI concluded that Mahathir and Anwar be probed for committing CBT, criminal neglect and concealing/misleading cabinet and parliament over the losses but in the end, no action was taken and nobody was ever held criminally responsible

CONSEQUENCE of BNM forex losses led to Malaysia lacking FOREX reserves to defend our Ringgit which then led to the financial crisis of 1997-1998.

1MDB scandal
Total loss to country: USD4.5 billion (RM13.5b in 2013 or RM21.2b in 2024)
- equivalent to 1.3% of Malaysia's economy size of RM1.05 trillion in year 2013
- equivalent to 3.1% of Malaysia's total FOREX reserves of RM441.7b in year 2013
- total recovery to date = RM29.03b as at Feb 2024, assets remaining RM40b TRX project, RM140b Bandar Malaysia project, RM500mil Pulau Indah land, RM2b Penang land.
- Najib hit with various criminal charges which is mostly AMLA. He is not charged with stealing 1MDB/SRC money for his personal use.

People forget that the actual amount of money misappropriate from 1MDB was US$4.5b (RM13.5b) - not RM32b which is actually the total 1MDB debt.

In fact, the total recovery to date via the various settlement agreements of RM29.03b has already exceeded the US$4.5b (RM13.5b or RM21.2b) that was misappropriated from 1MDB. Additionally, various settlement agreements are still being worked on which would lead to even more recovery.

1MDB's debts have mostly been settled already. There is more than enough balance in 1MDB's trust account to pay for the remaining principle and interest payments of 1MDB's final debt of RM5b bonds that will mature only in year 2039.

1MDB also had to spend billions out of these RM32b debts to:
- buy the land, relocate and compensate existing tenants, pay for land conversion costs, build the infrastructure (including RM3b for the 5km underground tunnels) and construct the RM40b TRX project
- buy the land, build and upgrade 8 military bases in Malaysia and promote the Bandar Malaysia project
- buy the Pulau Indah land
- buy the Penang land
- buy the various Independent Power Plants (IPP) to help eliminate the lop-sided IPP deals that were costing Malaysia RM15b to RM20b loss per year
- pay for the interest on the total debt
- pay for management and operations cost of 1MDB
- pay for various CSR activities including sponsoring tens of thousands of people to go for Haj

It is clear after taking into account the above, Malaysia actually stands to profit from 1MDB - not loss.

The second biggest scandal that hurt Malaysia the most is the Maminco scandal during Mahathri time that eventually led to the total collapse of Malaysia's tin industry which was our largest export then.

Nama pun scandal mana ada baik punya bengong la TS ni

PKFZ leh?

Done backup najib

Need more info on the bnm, hope itll be a good read. Anyone can contribute?

Salah dapig dan type c

TL:DR version.

All 3 cb also stole monies, so who would jew sappork?

PKFZ now very profitable. 100% occupancy rate now. Can easily pay back the loan already.

In fact, they building PKFZ 2 nearby because demand too high.

He adds that the transformation of Port Klang to a port city that comprises other commercial elements will be the booster for PKFZ to move into the next development stage, for instance, the expansion of PKFZ 2, 3 or even PKFZ 4.
https://www.edgeprop.my/content/1749989/pkf...s-be-discovered

Royal commission recommends criminal probe against Anwar, Mahathir for forex losses
https://www.straitstimes.com/asia/se-asia/r...or-forex-losses

lol, u think u write a general crap lines like that we would believe you?

sure, pls provide your detailed proof to each of your claim

What's your point TS? 1MDB scandal benefit us?

the only thing clear is, your papa is a male.

TS needs to add some clarity here

- action taken: RCI concluded that Mahathir and Anwar be probed for committing CBT, criminal neglect and concealing/misleading cabinet and parliament over the losses but in the end, no action was taken and nobody was ever held criminally responsible

Secretary of the RCI made police report. Krik krik all the way to 2018 change govt. Later revealed he retracted the report.

Another deep state mole that saboed Najib

Ok lar in this sense you have some merit

You didnt actually take the payment from KPMG and Goldman for damages (far greater than the fees we paid them) as intended FDI

U jangan kacau...

Tiong and all those involved (especially cronies) all happy...

Which part you don't agree with and want me to prove? Just state it.

Janji DAPee salah x bagi nasihat

-Lebailogic

18 Jan lol

TLDR; Jibby is a better leader because he stole less?

why would we need 1mdb to profit from land investment? we dont have any investment option other than 1mdb?

your reasoning of 1mdb actually profiting the country is a complete horseshit.

How cum Jho Low not in the picture??

TS is Jho Low??

The often quoted RM12.5b PKFZ "loss" is actually a scenario where PKFZ may incur additional RM5b interest if it is not able to generate any revenue to pay back their loan and interest of RM7.453 billion.
https://theedgemalaysia.com/article/pkfz-ho...st-comes-rm125b

This scenario hasn't happened. In fact the reverse is true.

PKFZ is now 100% occupied and generating revenues and surplus of hundreds of millions per year - just by leasing out their land and warehouses to customers.

---
This was in year 2019. PKFZ revenues have grown since then.

He (Anthony Loke) told a press conference that PKFZ was paying the PKA RM55 million every three months and was significantly rehabilitated from the days of its scandal.

“We know that PKFZ was developed through a loan and it has been restructured. PKA took a RM3.8 billion loan from the Finance Ministry and they must pay back the loan. Since PKFZ assets falls under PKA, PKA must pay back to the Finance Ministry in instalments.

“This is why it is critical for us to ensure that PKFZ can increase its revenue through the facilities and infrastructure that we build here to gain more income,” Loke said after launching PKFZ’s Transformation Master Plan (TMP).

Later, PKA general manager Captain K. Subramaniam told reporters that it has never defaulted on payments and last year collected RM220 million from the zone.
https://malaysia.news.yahoo.com/minister-pk...-063416899.html

Oh... really?

This is not what Nga and Anwar said.

Anwar said after a decade of development, TRX symbolises Malaysia's aspirations to create a leading global financial district, supporting its ambition to compete on the world stage.

Anwar added the Tun Razak Exchange is a step forward in the long and proud narrative of Malaysia, reflecting the country's rich history as a trading nation.

"Already, TRX is home to major financial players. "Today's launch of TRX also represents a milestone forward in the government's mission to renew the country's economic and financial architecture through the Madani Economy," he noted.

"With over 30,000 employees, including 20,000 knowledge workers, TRX has become a bustling business hub expected to drive economic growth and innovation while creating job opportunities."
https://www.nst.com.my/business/economy/202...nces-incentives

where are the numbers to say trx is profiting? who cares what PH says. it is you who claimed country is profiting from 1mdb ma. So now it is only reasonable that i ask for proof.

So you are saying that TRX doesn't benefit the country or that 1MDB doesn't profit from the TRX project?

im not saying anything. i m asking for proof of what you claimed.

2018 bn fall scandal

never recover

You notice Wah RM 32 Billion vs USD 4.5 Billion... currency also wanna pull a hoodwink

Anyway, 2 bad does not mean 1 is good...all are equivalent

Only stupid idiots keep saying 1MDB is the mother of all corruption and keep saying 1MDB's 13 billions is worst than BNM's 32B (equivalent to today's 100 billion?)

And yet the very same idiots keep complaining why Malaysia is in a mess. They are the reason why....

RM32b is TOTAL debt as at year 2018 then.

Not entire RM32b is lost.

But what is generally accepted is that the total missing money is US$4.5b - not RM32b.

"Malaysia will seek to recoup US$4.5 billion of funds that were potentially lost through 1MDB"
https://www.businesstimes.com.sg/internatio...ds-goldman-fees

tongkat policy is the worse and continue to worsen

You heard of Mr Google?

Malaysia went insolvent due to BNM scandals. You know what does the word "insolvent" means? So how much is your master paying you to deny BNM scandal ever happened?


The Edge Malaysia
Bank Negara 'basically insolvent' in 1993/94 after forex .
https://theedgemalaysia.com › article › bank-negara-bas...
30 Aug 2017 — PUTRAJAYA (Aug 30): Bank Negara Malaysia was "basically insolvent" in the early 1990s after suffering losses from foreign exchange trading, ...

What is your point? BNM benefited us?

I give you RM 4.5 and you give me RM 32? OK? Or something wrong with your arithmetic education

All these Najib supporters keep saying TRX is a success and is a proof of Najib's greatness.

What they all conveniently forgot is when PH took over in 2018, the government then had to save the whole project as 1MDB already pokai by then.

The PH then had to rehabilitate the whole project and took over from 1MDB. The PH government had to inject billions into the project first.

https://theedgemalaysia.com/article/govt-ca...avoid-sunk-cost

TRX is a success today mainly because PH managed to "detoxed" the whole thing lah.

The amount of loss from 1MDB might be lower than Tun M currency "adventure" in the 80s but the reputational damage from 1MDB is much more worse. Reputational damage is not measurable in $$$ but the impact is still felt today.

these are the only misappropriation/scandal funds we KNOW OF and was caught on to show in light to public

we do not know the whole truth or BTS or the total amount being swindled around/across our country

again, da 50% discount and home arrest #apamalubossku

Last time, MAS was owned by BNM.

As part of the move to make BNM solvent again, Mahathir and Daim asked Tajudin Ramli to buy the controlling stake in Malaysian airlines from BNM at RM8 per share compared to market value of RM3 then in year 1994.

After running MAS into the ground, Tajudin Ramli then sold back the shares at RM8 to Khazanah when market value was RM3.

Detox??? That's Guan Eng and PH narrative.

In fact, most of the major tenants and investors in TRX you see today:
- Lend Lease
- TH
- WCT
- HSBC
- CCCC
- Affin Bank
- Prudential

were all signed before GE14 when TRX was apparently "toxic"


And you logic that 1MDB is pokai and PH forced to bail out TRX is damn flawed.

You think PH use their own money to bail out TRX is it?

If TRX was really pokai and if PH didn't take over the govt, you think the BN Govt also cannot similary lend money to TRX to develop?

Akal.... mana akal? Where your brain?

This post has been edited by Roblox Malaya: Jun 13 2024, 05:18 PM

1mdb apa benefit lol ? Puak plotek incoming.

This thread is asking, why people like you saying 1MDB's 13 billion is worst than BNM's 32 billions. You studied arithmetic before?

How has this "reputational damage" lead to actual losses for country?

Share market? FDI? currency? etc?

Najib songlap and convicted.
See the difference?

Ts has a point, there are bigger scandals than 1mdb.

The thing he don't quite get in his head is we the rakyat got to do something about it. We voted bijan out in 2018. Nobody expected it, no one. Reduce his majority yes but change gov? No way.

Is that why so many say Tun will save Malaysia? How is it going so far?

He convicted because judge said it was not his right to give RM42m to charity out of RM123m that was already approved for and paid to do charity.

And you are right....

Malaysia's biggest financial scandal and biggest loss which caused the biggest damage to Malaysia has gone unpunished. No one ever made responsible or was punished.

Because PH Govt then NFA the case despite RCI already done.

TS manyak rajin ni, trying to white wash your boss 1MDB case to hit KPI kah

Both also sama sama sampah creating scandal to our country

Even big mama involved? What say u.

In suit, 1MDB alleges Rosmah spent up to RM1.6b using its funds to buy jewellery and handbags from 48 vendors in 14 countries

He had his chance and he failed.
Yet he still not convicted unlike Najib.

But kecian najib macais still butthurt of tis fact. lol!

And wat did PN do about it when they in power?
Nothing! Lol!

And you can keep ur Najib convicted because he give RM42mil to charity bullshit to urself here.

This post has been edited by COOLPINK: Jun 13 2024, 05:37 PM

u forgot to add in 1MDB scandal consequence - Ringgit/USD lausai from 3.3 till 4.5

- Important to note that this is a civil case and not a criminal case.
- It is 1MDB suing DSRM - not govt charging for criminal offences
- Important to note that DSRM had already been cleared in several cases in the past few years when the govt had tried to forfeit such jewelries where the judge had said that there is no evidence that those items seized were related to 1MDB or to criminal wrong-doing. Such items have already been returned to DSRM
- Such civil suits make for sensational media headlines but we will prove in the courts that the claims made by 1MDB that the summonses from 1MDB are false.

So the question you should ask is why govt not charging Rosmah for criminal offence but 1MDB just suing Rosmah in civil case?

Even if 1MDB wins, the most they can do is to bankrupt Rosmah. she no need go jail.

Still got people like this thinking that 1MDB caused Ringgit to fall to RM4.48?

Our Ringgit fell badly in 2015 and 2016 because of two things.

The roll-back of the USA quantitative easing as well as the SLUMP in oil prices.

If Ringgit falling was due to 1MDB then it wouldn't have recovered strongly starting from 2017 to end at RM3.86 just before GE14 lah

So Mahathir and Anwar benefited from the Forex scandal? Any money wnet to their bank account? Got proof of this?

the biggest scandal...
bijan bapa punya lima tiga belas....
atau dumno for 60 years?

Actually, Anwar and Mahathir did benefit by hiding the losses and misleading the cabinet and parliament so they are not punished politically for the scandal.

But it is without doubt that their actions have caused the biggest losses and damage to the country.

And we recovered NOTHING from the loss and have nothing to show for it.

In terms of scale, it was 15.9% of our GDP then.

In today's terms, 15.9% would be a loss of RM286 billion out of our total GDP of RM1.8 trillion now.

This post has been edited by Roblox Malaya: Jun 13 2024, 05:48 PM

biggest one was that guy who started the whole tongkat and croni scene

1MDB scandal broke out somewhere 1st half of year 2015, coincidence?

lim sian see you do a good job defending rosmah.

Second half of 2015.

So you are saying that oil prices didn't start to plummet in 2014?

That is just your assumption, and not backed by evidence.

https://www.malaymail.com/news/malaysia/201...cabinet/1522203

LMAO...walajib trying to make 1MDB 'halal' is the funniest thing today

so, which part that I write is wrong?

NEP

based on the reply in this thread..yup,you were totally 'right'

lol bodonya alasan nak bekap najib

Which land in Penang did the 1MDB company buy?

Nur Jazlan Mohamed has claimed that his father-in-law, a former Bank Negara Malaysia (BNM) Governor, the late Jaffar Hussein, had resigned for “someone else’s mistake”.

The Deputy Home Minister’s remarks came in light of former BNM assistant governor Abdul Murad Khalid’s claims that the central bank had lost US$10 billion in the foreign exchange market during former Prime Minister Dr Mahathir Mohamad’s era.

Murad said despite the heavy losses, there was no investigation into the matter. Jaffar, who served as the central bank’s governor from 1985 to 1994, resigned on April 1, 1994. He passed away four years later, in 1998.
https://dinmerican.wordpress.com/2017/01/31...-forex-scandal/

No.	Term	Governor
-----	-----------------------------	------------------------------------------
1	January 1959 - July 1962	Tan Sri W.H. Wilcock
2	July 1962 - July 1980	Tun Ismail bin Mohamed Ali
3	July 1980 - June 1985	Tan Sri Abdul Aziz bin Taha
4	June 1985 - May 1994	Tan Sri Dato' Jaffar bin Hussein
5	May 1994 - August 1998	Tan Sri Dato' Ahmad bin Mohd Don
6	September 1998 - April 2000	Tan Sri Dato' Seri Ali Abul Hassan bin Sulaiman
7	May 2000 - April 2016	Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz
8	May 2016 - June 2018	Tan Sri Muhammad bin Ibrahim
9	1 July 2018 - 30 June 2023	Tan Sri Nor Shamsiah Mohd Yunus
10	Effective 1 July 2023	Datuk Abdul Rasheed Ghaffour, P.M.W.

2018 Malaysian general election were held in Malaysia on Wednesday, 9 May 2018.







Tan Sri Muhammad bin Ibrahim, 61, is an Independent Non-Executive Chairman. He was appointed to the Gdex Bhd Board on 1 May 2020.

**Section 15 (1) of the Central Bank of Malaysia Act 2009** provides that the Governor shall be appointed by the Yang di-Pertuan Agong, and the Deputy Governors by the Minister (charged with the responsibility for finance).

1mdb money masuk account MO1 and AG under 3 different PM of various party decided to sue.......

Forex RCI masa zaman jibby but AG pun tak mau sue

That say a lot

He already failed in the 90s. You still give him chance in 2018

So why not give him chance again in next GE?

He is now PN macai, so u can give him chance lo.

https://www.scmp.com/news/asia/southeast-as...sia-court-hears

Moomoo hampir dapat RM500B tapi terlambat sikit.

Like Battersea power station also last time so many criticise pnb and epf decisions to buy it.

So, later profitability is an good excuse for initial scandal and corruption?

How I will remember our PM


1. Mathatir
- Bank of Commerce Case in HK
- destroyed the independence of our justice system
- all sons/ daughter very smart and successful billionaire
- oh and bet against Soros lost and blame Jew
- everything not their fault (but then again all politicians are like that)

2. Najib
-Altanuya
-Tong simen
- 1MDB
- That fat Chinese guy forgot his name party with Paris Hilton
- Beg Berkin manabung from small- what the hell

3. Anwar
-TCSS no one
-Janji Tak Dicapati
-Send people to do his dirty work
-PM of Palestine




when not profitable then blame current gov - " they are the ruling gov its their fault"

He wouldn't even be charged or convicted had ppl not toppled him in GE, that would be the perfect world for TS.

TS sohai for ignoring the fact that if we had not topple Najiiis, who knows what next corrupted scheme would be cooked up...... He talked about all the money we recovered from 1MDB, and had we not toppled him none would be recovered.

tipu on 1MDB debt.

1MDB debt, many used country asset to pay.

example, 1MDB buy extremely cheap TRX land, then gov announced the TRX project, and sold the land to GLC and private to earn super duper huge profit to pay the debt.

by right, those land should be sold to a valid GLC and 100% of the profit back to gov and not used to cover all the hole in 1MDB debt.

For Anwar, I think what you wrote there is applicable to Tun M and Najib too. In fact it’s applicable to all politicians in Malaysia.

1. You tell me which politicians don’t TCSS?
2. Which politicians fulfill all their promises especially promises made a few years ago? All politicians TCSS.
3. This is even more stupid. Which PM don’t send people to do his dirty work? It’s called delegating lah.
4. PM of Palestine? You do know that it’s the same policy during Tun M and Najib time. Najib even went to meet Hamas leader at Gaza and it was Tun M time that the demonising Israel really started. Does any politician in Malaysia dare to say they don’t support Palestine?

Anwar time is too short to have any real scandals yet. You will probably find out in the future after he lose the next GE.

This post has been edited by 30624770: Jun 14 2024, 08:53 AM

TS logic, Najiiiis scandal not the biggest scandal....... time to bring back Najiiis as PM.

that's true...but Mahathir and najib other deeds are more apparent that it overshadowed Anwar...

there is just so much in my mental notes for each politician... lol

It's ok if the company made loss but most of the money going to one person?? How should them deserve the praise

Corrupt Malaysia justice system still protecting 1MDB pencuri like Ambank banker, Jasmine Loo, Zeti Aziz family,Nik Faisal. No effort as well to just give straight jail term to Jho Low just like Kuwait did. Kuwait confirm he's a pencuri with his Arab connection, the connection already jailed there.

Anwar only 1 year plus. So you won’t see much yet. Shit usually only comes out after they are no longer in power. It’s the same for all politicians. However, if you compare him to the alternative we have today, I don’t think you will want to vote the alternative.

Unfortunately, for us, it’s always voting the lesser evil. It’s the same as other countries too. Look at US. Trump or Biden. They can only vote who they think will do less damage similar like us too.

It's Roblox
He wrote something one liner, it's the truth
Later he count he wrote 13 lines so it's 130% he's correct

mana bank bumi in the 80s

agree.. if and when PN wins Macc will go after the previous gov ... merry go round ...

truth be told... we are only zooming in on Anwar because we all "Muda lupa". we forgot how the alternative was... the mara digital mall case etc, take 20 years or 50 years to solve Kelantan flood and much more

but that does not mean that I cannot criticise Anwar just because I voted him.

Anwar has been education minister and finance minister etc before for decades. How's his performance?

If can bring one who actually bankrupted Malaysia back as PM and rejoice in the streetrs, who else could be worst than that?

What is wrong with PN? I can prove they are better educated than those in PH.

so it's ok for 1mdb because forex scandal happened? hmmm

The fact is there are no better alternatives in the next GE. For all his flaws, Anwar is still a better choice than the alternatives.

I have to applaud him for daring to make an unpopular but necessary decision like removing subsidies for diesel. The bigger question is will he do the same for petrol which will make him even more unpopular.

No one including me like the increase in petrol prices but the unfortunate truth is no matter what is our country’s financial position, continuing such subsidies are just not feasible anymore.

This post has been edited by 30624770: Jun 14 2024, 09:24 AM

You forgot, who has a big hand in bringing race and religion into Malaysian education system. Many of the students from those schools now backing PN.

1MDB is a great development project greatly benefited the country like TRX connecting to MRT Bandar Malaysia connect to HSR 1MDB power plants to replace crony IPPs

Even with his underlings corrupting the 1MDB funds and Roket sabotaging, the development is a positive return for the country because of Najib competency

Roket instead of catching the real culprit like Jho Lo and his accomplice, sabotage the development to the country detriment just to fitnah Najib

#BebasNajib
#NajibForPMXI