SeaDemon Says

Posts Tagged ‘lies

The Malays don’t forget easily. Only Malays who have not experienced it will forget. The non-Malays would sure forget.

The title above is based on a quote made in 2013 by someone who forgets everything easily.

Free Malaysia Today, 4th May 2013

The person who easily forgets (possibly due to age factor because forgetfulness, senility dan loss of sanity are signs that death is approaching) said that his best friend Lim Kit Siang uses the ‘Malaysian Malaysia’ principle that denies the Malays from enjoying the privileges accorded to them in their land of origin as not being racist.

Lim Kit Siang of late has been trying to distance himself from the 13 May 1969 incident by saying that he was in Kota Kinabalu when the incident happened.

It is true that Kit Siang was arrested in Kota Kinabalu after making a speech inciting the Sabahans to hate the government and spreading lies that the government does not recognise the status of Sabahan Bumiputeras as equals to the Malays in the Peninsular. However, we know that the seeds of hatred had been planted long before that.

On 25 January 1969, Kit Siang slammed the United Democratic Party (UDP) for behaving like the MCA turning its back against its struggles with the DAP to establish the Universiti Merdeka and to champion the Chinese language, and to not accept the policy where the Malaysian culture must be based in the Malay culture; the Malaysian literature must be written in Malay; and multilingualism is not allowed as only Bahasa Malaysia is allowed.

Kit Siang said the above at a DAP rally in Datuk Keramat, Pulau Pinang on the abovementioned date.

He accused the government then of failure to establish and implement the fundamental concept of Malaysian Malaysia where the country does not belong to one single race and the use of a single language and single culture is an oppression against the other races.

You can read his speech titled ‘The Crusade for Malaysian Malaysia‘ so you do not forget easily like Kit Siang’s best friend who now champions Kit Siang’s struggles in order to destroy what have been protected in the Federal Constitution since the formation of this country.

Kalau ikut Mahathir, macam-macam dah kena tutup kini. Namun, seperti yang didakwa Alexandria Luger, Mahathir akan masuk neraka kerana kerap berbohong.

Hari ini Mahathir berbohong lagi. Dia kata Forest City memberi hakmilik tanah kekal kepada para pembeli.

Rasanya dah berbuih dah penerangan diberikan mengenai perkara ini. Bhaiya Bangladesh kontrak mungkin telah faham sefahamnya akan penerangan tersebut. Tetapi sebab penerangan ini bukan diberikan dalam bahasa ibunda beliau maka agak sukar bagi beliau memahami.

Ahli Parlimen Sekijang terpaksa terangkan sekali lagi bahawa yang hakmilik kekal adalah hartanah strata. Dua bulan lepas pun DYMM Sultan Johor dah terangkan perkara yang sama.

Nak diterangkan dalam bahasa apa lagi?

Kemudian, Najib Razak pula yang dipersalahkan. Bukankah Forest City perihal tanah negeri Johor? Apa kena-mengena dengan kerajaan pusat? Masing-masing negeri ada unit perancang ekonominya sendiri.

Kenapa tak salahkan Tuanku Sultan Johor? Tak berani macam rakan sekapal beliau?

Memang Forest City bakal mendapat status bebas cukai. Apa masalahnya? Langkawi juga masih pulau bebas cukai.

Kalau Mahathir gunakan Internet sewajarnya dan bukan untuk menyebarkan fitnah semata-mata maka beliau pasti mengetahui bahawa kenyataan beliau bahawa status bebas cukai Langkawi akan ditarik balik hanyalah pembohongan yang nyata.

Apa yang diumum kerajaan adalah hanya kedai-kedai berlesen sahaja yang akan dibenarkan menjual barangan rokok dan arak bebas cukai di Langkawi.

Begitu juga langkah untuk meminta pemilik kenderaan yang berdaftar di Langkawi mengemukakan jaminan bank sebelum boleh dibenarkan membawa kenderaan mereka keluar dari pulau tersebut. Ini adalah untuk mengatasi kepincangan yang berlaku sejak sekian lama.

Siapakah yang telah menjual sebegitu banyak tanah orang tempatan Langkawi kepada para kroni suatu ketika dahulu? Siapa yang mengambil tanah 80 penduduk Melayu Pantai Gelang, Langkawi untuk dijadikan resort

Mengenai pinjaman oleh warga China pula, itu semua cerita basi yang diulang berkali-kali. Saya maafkan beliau. Bercerita sesuatu berulang kali ini ada hubungkaitnya dengan penyakit nyanyuk. Mungkin suatu hari nanti beliau akan memandang kepada anak beliau dan bertanya, “Hang apanama?” berkali-kali juga.

Sebenarnya saya kasihankan beliau. Pernah disanjung ramai suatu masa dahulu tetapi pernah ditolak sebagai perwakilan oleh Bahagian sendiri semasa masih dalam parti angkat beliau, UMNO. Namun beliau masih tidak sedarkan diri.

Kini beliau hanya mampu merangkak sambil menjilat kahak hijau yang diludahnya dahulu sambil ditunggangi oleh joki-joki yang mengharapkan kemenangan seekor kaldai tua.

Sudah-sudahlah berbohong. Kita tak boleh hidup selama-lamanya. Janganlah diikuti perangai Rafizi. Beliau rasa beliau masih muda.

Jangan sampai anda digelar SOTUN pula.

Berikut adalah pembongkaran penipuan Rafizi Ramli yang dibuat oleh Lim Sian See:

Di Parlimen semalam, Rafizi Ramli menggelar Perdana Menteri Datuk Seri Najib sebagai ‘juara kepada juara’ apabila bercakap mengenai membelanjakan pendapatan dari hasil petroleum.
Rafizi yang sudah berkali kali masuk mahkamah kerana memfitnah, mendakwa Najib membelanjakan RM376 bilion hasil pendapatan petroleum negara antara 2009 hingga 2016, atau secara purata RM54 bilion setahun.
Tun Abdullah Ahmad Badawi pula didakwa membelanjakan RM204 bilion dari pendapatan petroleum atau RM41 bilion setahun dari 2003 hingga 2009. (walaupun Pak Lah hanya mengambil alih kerajaan pada 2004).
Rafizi kemudian mendakwa Tun Dr Mahathir Mohamad yang menjadi Perdana Menteri selama 22 tahun hanya membelanjakan RM163 bilion, atau RM8 bilion setahun.
Ok. Rafizi turut mengakui ia bagaimanapun tidak mengambil kira inflasi dan perubahan nilai matawang, yang secara mudah jika dihitung, perbelanjaan ketika era pentadbiran Dr Mahathir adalah berganda.

Hanya mengambil kira perbezaan nilai matawang sudah cukup untuk menjadikan perbelanjaan ketika zaman pentadbiran Dr Mahathir menjadi sekali ganda.
Kedua, Rafizi tidak mengambil kira kos pengeluaran, di mana ia turut meningkat memandangkan minyak yang dikeluarkan di pesisir pantai atau carigali di kawasan pendalaman tidak lagi wujud dan kita perlu meneroka ke luar pantai dan carigali laut dalam.
Ketiga, Rafizi tidak pula menggelar Najib sebagai ‘juara kepada juara, apabila kita bercakap mengenai pemberian subsidi sebagaimana kita lihat di carta di bawah berdasarkan kepada angka dikeluarkan Perbendaharaan, di mana perbelanjaan adalah 10 kali ganda daripada zaman Dr Mahathir berikutan kenaikan kos pengeluaran minyak, kesan matawang dan pertambahan jumlah penduduk.
Najib membelanjakan bahagian yang besar daripada pendapatan minyak ini kepada rakyat berikutan kadar subsidi yang lebih tinggi.
Keempat, Rafizi juga tidak menyebut Dr Mahathir telah mengenakan cukai ke atas petrol selama 22 tahun pada kadar 58.62 sen bagi setiap liter ketika harga minyak rendah pada ketika itu. Ini sahaja melibatkan berpuluh bilion Ringgit bagi pendapatan Dr Mahathir untuk beliau membina menara berkembar dan projek mega lain.
Maka sekali lagi, Rafizi mahu mengelirukan rakyat dengan tidak memberikan maklumat penuh dan hanya menceritakan hanya suku temberangnya untuk mencetuskan kebencian terhadap kerajaan.
Rafizi kemudian menggesa kerajaan untuk memulakan subsidi petrol biarpun seluruh dunia kini bergerak untuk tidak lagi memberikan subsidi menyeluruh seumpama itu malah pengeluar serta pengeksport minyak terbesar di dunia turut menarik balik subsidi, dan beralih kepada penyaluran subsidi lebih kepada sasaran sebagaimana dilakukan Malaysia.
Akhir sekali, Rafizi masih lagi tidak menjawab soalan berikut:
Malaysia adalah negara ke-16 termurah bagi harga petrol, 
Negara yang lebih murah dari kita kebanyakannya pengeluar minyak terbesar di dunia.
Venezuela, Saudi Arabia, Turkmenistan, Egypt*, Algeria, Kuwait*, Iran, Ecuador, Bahrain, Kazakhstan, Nigeria, Qatar, Sierra Leone, Oman, and Bolivia.
Negara yang mana Rafizi mahu harga kita lebih murah lagi? Mungkin Rafizi masih mahu Malaysia mengikut seperti Venezuela seperti yang diseru oleh beliau di tahun-tahun yang lepas?
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Sejak akhir-akhir ini grup-grup WhatsApp Veteran Angkatan Tentera Malaysia yang saya sertai mula dihujani dengan mesej-mesej politik memainkan semula isu-isu lama yang telah terjawab dan terbukti fitnah.

Semalam tersebar semula video di mana Rafizi Ramli menaburkan fitnah mengatakan bahawa MRT Malaysia adalah milik Najib Razak. Jarang sekali saya bertukar pendapat di dalam grup-grup WhatsApp tersebut melainkan untuk bertanya khabar dengan mereka yang pernah berkhidmat dengan saya dahulu namun kali ini saya terpaksa menerangkan kerana saya pernah bekerja di projek KVMRT Lembah Klang.

Dakwaannya yang dikemukakan oleh veteran yang tularkan video tersebut ialah Menteri Kewangan (Diperbadankan) ialah syarikat milik satu-satunya Menteri Kewangan, dan MRT Malaysia adalah 100 peratus milik syarikat tersebut.

Saya memberitahu beliau dan lain-lain ahli grup WhatsApp tersebut bahawa Malaysia mempunyai dua orang Menteri Kewangan. Menteri Kewangan (Diperbadankan) ditubuhkan melalui Akta Menteri Kewangan (Pemerbadanan), 1957.  Ianya sama seperti Menteri Besar (Diperbadankan) contohnya di negeri-negeri seperti Perak dan Selangor, dan juga Perbadanan Menteri Besar Kelantan – bukan dimiliki mana-mana individu dan ahli-ahli lembaganya terdiri dari pegawai-pegawai kerajaan. Barulah mereka faham mengenai perkara tersebut.

Saya tidak menyalahkan mereka.  Hampir kesemua mereka lebih berumur dari saya. Sebahagian besar menyertai Angkatan Tentera Malaysia sebagai anggota lain-lain pangkat di suatu zaman yang tidak memerlukan mereka mempunyai tahap pendidikan yang tinggi.  Adalah lebih mudah untuk memanipulasi mereka ini.

Semasa mereka berhenti, Jabatan Hal Ehwal Veteran ATM masih belum tertubuh.  Mereka ibarat terbiar menghabiskan sisa-sisa hidup setelah berhenti dari perkhidmatan.  Tidak ada siapa yang menghiraukan mereka mahupun datang memberi penerangan mengenai isu-isu semasa kepada mereka.

Pada tahun lepas apabila pemenang pingat skuad Olimpik diberi ganjaran oleh kerajaan, ada pihak yang telah mencucuk para Veteran ATM untuk bangkit bertanya kenapa mereka tidak diberikan imbuhan setimpal.  Mereka merasakan bahawa pengorbanan yang telah mereka berikan tidak dibalas dengan setimpal.

Program 1MVHRP adalah di antara keistimewaan yang disediakan untuk Veteran ATM

Maka timbul di kalangan veteran itu sendiri penghasut-penghasut yang menanam benih-benih kebencian.  Ramai Veteran ATM itu sendiri tidak tahu-menahu mengenai keistimewaan yang diberi oleh Kerajaan kepada mereka sebagai tanda penghargaan buat mereka dan keluarga.

Di antara keistimewaan yang disediakan untuk Veteran ATM

Saya telah menjawab perkara ini dengan agak panjang lebar pada ketika itu.  Mana-mana Veteran ATM sama ada pegawai mahupun lain-lain pangkat yang telah menamatkan perkhidmatan dan tidak dibuang dari perkhidmatan layak menerima kad pengenalan di bawah dan juga keistimewaan yang disediakan untuk para Veteran.

Namun masih tidak ada usaha dari pihak Kerajaan mahupun Barisan Nasional khususnya untuk mengadakan pertemuan untuk menerangkan isu serta polisi bukan sahaja kepada para Veteran ATM tetapi juga kepada pengundi akar umbi terutamanya di kawasan luar bandar.

Veteran ATM sama ada berpencen mahupun tidak, boleh menikmati tambang pesara KTM

Mereka-mereka inilah yang terdedah kepada dakyah-dakyah serta propaganda fitnah setiap hari.  Yang ironiknya, mereka inilah yang dipolitikkan oleh golongan yang marah jika Veteran ATM dipolitikkan.

Dan jangan kita lupa apa tugas Rafizi Ramli dan para pembangkang:

  • In: Daily Whatevers
  • Comments Off on It Is Okay Being Racist If You Are A Minority

It is called “reverse racism” and among the ways it works is by making racist remarks against the majority claiming it is a reaction against oppression.

Yesterday I received a WhatsApp message that has been making its way around on the Internet purportedly sent by DAP’s people:

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Forgive me for getting technical with this but I have to endeavour to make people understand the background of this nation to understand the current situation we are in. I cannot possibly answer all the allegations above as I do not work for the government therefore I do not have all the data needed but I shall make references to publicly-available documents.

The Malay States were rich with tin and land for rubber plantations.  This led to the signing of treaties to enable the British to have a share of the wealth and the creation of British protectorates of the Federated Malay States (formed in 1895 with common institutions such as the State Constitution, and a Resident-General administering the states on behalf of, and answerable to the Sultans and Yam DiPertuan Besar as his salary was paid by them) and the Unfederated Malay States (C.D Cowan, 1961; Emily Sadka, 1968; Eunice Thio, 1969).

The economy was divided into two systems – tin mining and rubber plantations dominated by the Chinese, and peasant farming and inshore fishing conducted by the Malays (M Yusof Saari, Universiti Putra Malaysia, Malaysia; Erik Dietzenbacher and Bart Los, Univeristy of Groningen, The Netherlands – World Development, Volume 76, December 2015, pp. 311-328).

With the expansion of mining and rubber lands, the Malays got pushed back to the edges of primary forests, and away from economic wealth that both the Chinese and Indians were enjoying.

EW Birch, the 8th British Resident of Perak, recognized this dire situation and quickly proposed a policy of preserving the Malay land. The only way to him to preserve the Malay race was to “free them from the clutches of those people who now remit to Indian large sums of money, which they bleed from the (Malay) people.”

This later became the Malay Reservation Land Act which spirit is preserved in the Malaysian Federal Constitution. Even Sir Frank Athelstane Swettenham conceded that something had to be done to preserve the Malays. He wrote:

“In the Malay sketches contained in this and a previous volume, I have endeavoured to portray,…the Malay as he is in own country, against his own picturesque and fascinating background…The position he occupies in the body politic is that of the heir to the inheritance. The land is Malaya and he is the Malay. Let the infidel Chinese and evil-smelling Hindu from southern India toil, but of their work let some profit come to him.”

The Chinese and Indians brought over by the British were British subjects as far as the colonised parts of Malaya were (Pulau Pinang, Melaka and Singapore).  However, the ones in the Malay States were disinclined to give allegiance to the respective Sultans as they pledged allegiance to their homeland.

In 1911, the Malays made up 53% of the population. By 1931, they were already outnumbered and in 1941 formed only 41% of the population.  The Chinese community was at 43%, displacing the Malays as the dominant racial group. The Malays were in a disadvantageous position and this proved explosive in 1946 during the Bekor tragedy.  The Malays remained as the minority until 1970.

And if you think the Malays have done well since then, the table below will show that despite the NEP being in place, the income of the Chinese grew tremendously as compared to the Malays (M Yusof Saari, Universiti Putra Malaysia, Malaysia; Erik Dietzenbacher and Bart Los, Univeristy of Groningen, The Netherlands – World Development, Volume 76, December 2015, pp. 311-328):

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Allegation 1 – Of the Top 5 Banks, Only One is Non-Malay

The top five banks are Malayan Banking, CIMB, Public Bank, RHB Capital, and Hong Leong Financial Group.

If you see who the top 30 shareholders of Maybank are, you would see that they are mostly government investment agencies, or nominees especially by Citigroup. Citigroup is NOT Malay.  However, you would see that at Number 28, a private individual is an individual shareholder.  He is NOT Malay.

The top shareholders of CIMB as of 30 June 2015, are Khazanah Nasional – 29.34 %, Employees Provident Fund (EPF) – 17.51 %, Kumpulan Wang Persaraan (KWAP) – 3.61 % and Mitsubishi UFJ Financial Group – 4.61 %.

Public Bank, although third in the list, was the second largest bank in Malaysia by market capitalisation in September 2016.  Its major shareholder is Tan Sri Dato’ Sri Dr. Teh Hong Piow, who has a 23.79% stake in the bank as of 26 January 2016. Teh is also the bank’s founder and chairman. He is NOT Malay.

I can skip and go on to Hong Leong Financial group if you want to see the shareholding information.

Allegation 2 – 99% of PETRONAS Directors Are Malays

The DAP and Pakatan are famous for plucking numbers from the sky.

Two of 16 directors of PETRONAS are non-Malays so that makes 12.5%.  Therefore, only 87.5% are Malays. Now look at their respective background and tell me of they are not qualified to be there.

PETRONAS is a government-owned company. It is not an Ah Beng Enterprise (no reference to Lim Guan Beng) and the board is answerable to the Government on all matters.

Allegation 5 – 100% PETRONAS Contractors Are Bumiputeras

Bumi Armada is one of the largest suppliers of offshore support vessels, Floating Production, Storage and Offloading (FPSO) units, Floating Gas Solutions (FLNG/FSRU/FSU) to PETRONAS. It is an Ananda Krishnan company. Ananda Krishnan is NOT Malay.

Allegation 6 – Chinese Companies Must Have 30% Bumiputera Employees; Malay Companies Can Have 0% Chinese

Again, this is very racist and a blatant lie.

There is NO legal requirement that companies have to employ 30% Bumiputera.  Otherwise you will not get these racist advertisements:

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You are only required to show your Bumiputera equity be it 30%, 51% or 100% if you are tendering for a Bumiputera-open or Bumiputera-limited contracts.  That is EQUITY, not employees.

In reality too, most “Bumiputera” companies that tender for government contracts are actually Chinese-run companies that use Malay names on the license and application forms.  Malays are given 30% allocation while non-Malays have 70% but even the 30% has non-Malay participations.

They always claim that they are the “second-class” citizens of this country yet they are the ones who control the economy.

Do you think if policies are not in place they would care for the Bumiputeras?

And by saying Bumiputera, I mean the Malays and the natives of Sabah and Sarawak who are economically second-class citizens in their own land as the Chinese are the ones who dominate the economy there.

Allegations 7-10: Minimum Participation of Non-Malays in Government Sector

In 2014, the Royal Malaysian Police had had to lower the entry requirements to cater for the non-Malays – all they need to do is PASS the Bahasa Malaysia subject in their SPM exams.

Even that they cannot do.

In 2016, out of a force of 90,000, Indians made up 3.3% of the total while Chinese 1.77%. In 2016, the Royal Malaysia Air Force the non-Bumiputeras number about 5% of the total 15,000.

This is not due to the pay offered.  I don’t think they are interested to serve a Malay-majority government.

Allegation 13 – Kedah Chinese Rice Farmers Have To Sell To Malay-owned BERNAS

BERNAS is a company that regulates the supply and price of rice in Malaysia to deny millers exorbitant profit at the expense of end users.

BERNAS’s top 30 share holders in 2012 are as follows.  Note the solo individual top shareholder.  Again, he is NOT Malay.

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Allegations 19-22: Malay Schools versus Non-Malay Schools

First – THERE ARE NO “MALAY SCHOOLS.”  They are the National Schools where all children are supposed to go to, mix, learn and grow up together.  Most Chinese or Tamil schools are private schools and are self-funded.  That is why we see only a small chunk of the budget go towards the latter two.

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Now if we go back to the first paragraph of the WhatsApp message that I received, it is mentioned that the Malaysian government practices racial discrimination, yet the baseless allegations made that I am familiar with have been shot down.

We have seen also that because of their weakness in their command of the Bahasa Malaysia, a language they are supposed to have mastered after 60 years, they have failed to join the public sector. This is due to the fact that they refuse to learn anything that is not taught in their mother tongue.

They would rather that their children do not grow up with the children of the Malays or learn to speak the language that has always been the language of this land and is enshrined in the Federal Constitution as the language of the nation.

So who is it that wants segragation? Who is being racist?

NOT the Malays.

As for those who migrated from Malaysia, those are the free-riders with no loyalty whatsoever to the nation.  When the going gets tough, leave for seemingly easier life.  For those people, loyalty lies in the pocket.

If this government is being racist do you think that there would be vernacular schools? Do you think DAP’s Chen Man Hin would have made RM790 million from a government company?

So who is being racist here?  Obviously DAP itself.  Out of the 30 Central Executive Committee members there are only four Indians/Indian diaspora. one Malay and two Sabah/Sarawak Bumiputera.

Again, the rest are NOT Malays.

King Salman Abdulaziz Al-Saud salutes the colours

King Salman Abdulaziz Al-Saud salutes the colours

King Salman Abdulaziz Al-Saud of Saudi Arabia arived in Kuala Lumpur for a four-day state visit yesterday, making Malaysia his first choice of nation to visit since taking over the throne from King Abdullah Abdulaziz Al-Saud who died two years ago.  His visit is the third to Malaysia by any Saudi King.

The first visit by a Saudi King was in 1970 by the late King Faisal Abdulaziz Al-Saud, followed by the late King Abdullah Abdulaziz Al-Saud in 2006.  No Saudi King visited Malaysia for 36 years between 1970 to 2006.

Unbeknownst to many, Malaysia especially under the current administration is looked upon with high respect in the global scene, thanks to the tireless diplomacy conducted by both Prime Minister Najib Razak and Foreign Minister Anifah Aman.  Saudi would contact Malaysia at least every fortnightly to consult on many things including on matters involving the Middle East.  Malaysia’s stance on the Middle East countries, for example,  plays a huge role on how Saudi shapes its foreign policy.

It is of no surprise then when King Salman announced at the state banquet in his honour at the Istana Negara that Saudi is prepared to render Malaysia assistance to the latter’s initiatives to help Muslims.

We are ready to extend assistance and all resources that we have to help Malaysia realise its efforts to help other Muslims,” he said.

A day prior to King Salman’s arrival, U-Turn Mahathir made a veiled reference to the Saudi King, accusing him of lying and giving Malaysia money in want for something in return.

The no-balls comment made by U-Turn Mahathir

The no-balls comment made by U-Turn Mahathir

In 2015, Saudi Arabia donated a total of USD 115 billion to help 90 nations around the world.  The USD700 million given to Malaysia back in 2013 is not even one percent of the amount.

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Furthermore, even ABC Australia’s investigative documentary ‘Four Corners‘ confirmed in 2016 that the USD700 million had nothing to do with 1MDB-linked companies.  The only allegation made which the US Department of Justice had based its investigation on was by U-Turn Mahathir’s errand-boy Khairuddin.

The Four Corners report confirms what the Prime Minister has maintained all along, and what multiple lawful authorities concluded after exhaustive investigations: the funds were a donation from the Royal Family of Saudi Arabia.”

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I am surprised that none of those who accused Najib of soliciting the RM2.6 billion (USD700 million) donation for himself has held a placard at the Parliament building to ask where has the donated money gone to.  Mahathir was not at the state banquet – it was the best opportunity for him to ask in person about the donation.

Pak Lah, U-Turn Mahathir's successor however can be seen on the far right in this picture of King Salman being conferred the highest award by the Yang DiPertuan Agong. This underscores the notion that U-Turn Mahathir is a persona non grata at the Istana

Pak Lah, U-Turn Mahathir’s successor however can be seen on the far right in this picture of King Salman being conferred the highest award by the Yang DiPertuan Agong. This underscores the notion that U-Turn Mahathir is a persona non grata at the Istana – pic by BERNAMA

Even blabber-mouth Tony Pua is evidently and conveniently missing, choosing to be away from Malaysia when the Saudi King is here.

Lari! So that no one could ask "Why didn't you ask about the RM2.6 billion?"

Lari! So that no one could ask “Why didn’t you ask about the RM2.6 billion?”

Every detractor has gone missing or in hiding or crying beneath the shower as the best opportunity to hand over a suit over the “missing” RM2.6 billion slowly disappears.

This IS the best time to sue, people.  Not only did the Saudi Royal Family give RM2.6 billion, it has now brought RM62.26 billion on this trip!  Show some balls! This is the time!

Then again, if even Pakatan’s de facto leader U-Turn Mahathir dared not reveal the identity of the person he accused, what chance do you think his coward minions would dare to show the top of their head?

Kit Siang also published a book on the BNM Forex losses scandal

Kit Siang also published a book on the BNM Forex losses scandal

Yes. The year was 1994 when Lim Kit Siang found it ultra-important to publish a book on the Bank Negara Malaysia (BNM) foreign exchange scandal that caused the loss of RM30 billion (estimated to be at RM49 billion in today’s terms).

The book is called, as you would have guessed, ‘The Bank Negara RM30 Billion Forex Losses Scandal‘.

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The BNM forex scandal losses in 1991 made international headlines at the time, forcing the resignation of BNM’s governor Jaffar Hussein.

Again I should thank Kit Siang for writing all this, making it easier for me to see what he had written on the issues he raised in the past.

In 2004, Kit Siang called upon Nor Mohamed Yackop who then was sworn in as a Senator to become Finance Minister II to issue a White Paper on the matter.

Up to now, the government has failed to “come clean” on the colossal  Bank Negara forex losses  as a result of speculation in the international currency markets from 1992-1994, with the losses  cited as ranging from RM10 billion to RM30 billion. In Parliament in 1994, I had given reasons as to why the Bank Negara’s forex losses as a result of its forex speculation operations could have amounted to as high as RM30 billion, which had not been seriously rebutted by any top government leader or Bank Negara official,” he wrote on his blog limkitsiang.com.

In  April 1991, a   Reuter news agency report from London described Bank Negara as “a dominant force on the foreign exchange scene for some years” and it was  accused by some forex operators as “a market bully”.

The 1991 Reuter report states:

“Over the past two years it has stepped up its trading volume, and this year it has started dealing in what dealer described as ‘really massive amounts’… 

“Typically, Bank Negara operates in US$50 million lots, compared with the market norm of US$5 million or US$10 million and deals with maybe six major banks in Europe and six in New York, dealers said. 

“One trader said the only dealers rivaling Bank Negara would be the Japanese funds. But while these funds enter the market no more than once or twice a year, Bank Negara is coming in and doing yards (billions) of dollars a day. 

“”Its recent technique has been to hit major banks for US50 million each, then his them 10 minutes later, dealers said. 

“Then it changes centre, and does it all over again.” 

The April 1994 issue of Malaysian Business – one of the publications in the New Straits Times stable – reported  that Bank Negara’s maximum exposure in the foreign exchange markets reached as high as RM270 billion – three times the country’s GDP and more than five times the country’s foreign reserves at the time!

Kit Siang added that some Government leaders were wise after the event, and one of them was none other than Daim Zainuddin, under whose first tenure as Finance Minister from 1984-1991 the Bank Negara’s unorthodox forex speculation started, who said on April 4, 1994 that while those responsible for the huge forex losses of Bank Negara had accounted for their mistakes by resigning, central banks should never “play with fire” with such forex speculation.

It was Kit Siang who pointed out the irony.

In 1995, a book on international high finance, ‘The Vandal’s Crown‘ by Gregory J. Millman on Page 229 had this to say about the Bank Negara forex scandal:

“Using all the resources a central bank commands – privileged information, unlimited credit, regulatory power, and more – Malaysia’s Bank Negara became the most feared trader in the currency markets. By trading for profit, Bank Negara committed apostasy against the creed of central banking. Instead of working to ensure global financial stability, Bank Negara repeatedly shoved huge sums of money into the most vulnerable market situations in order to destabilize exchange rates for its own profit” (p.226) 

“(Bank) Negara operated behind a thick veil of secrecy. The bank seldom spoke publicly about its controversial trading activities. Yet it was increasingly clear to foreign exchange traders that Bank Negara’s operations in the foreign exchange markets went far beyond simple self-defense. It became the most awesome currency trader in the world.” (p. 227) 

“(Bank) Negara’s market manipulation was so egregrious that one American central banker said, ‘If they tried this on any organized exchange in the world, they’d go to jail.’ However, in the unregulated international currency markets, there were neither police nor jailers. The only rule was the rough justice of the vandals, and it was this rule that eventually brought (Bank) Negara down. 

“In 1992, (Bank) Negara took on a large pound sterling position, apparently expecting Britain to maintain the discipline required by the European Exchange Rate Mechanism. It was a bad economic and political judgement. (Bank) Negara lost approximately $3.6 billion when Britain withdrew from the ERM, letting sterling collapse. The next year, (Bank) Negara lost an additional $2.2 billion. By 1994, Bank Negara was technically insolvent and had to be bailed out by an infusion of fresh money from Malaysia’s finance ministry.”

Recently, Abdul Murad Khalid who was the Assistant Governor of BNM who resigned in 1999 revealed that the forex losses were in actual US Dollars and not in Malaysian Ringgit.

There was no control… The most important thing is that there was no investigation at all,” Murad was quoted as saying by NST.

Asked if the then Prime Minister knew about the losses, he replied: “I’m sure the governor briefed them.”

Kit Siang’s silence on this issue is indeed deafening.  The so-called champion of the rakyat now has his balls as wrinkled as his face is.  And all to achieve his personal political ambition.

In 1993, Anwar Ibrahim who was then the Finance Minister responded on behalf of his then-master, U-Turn Mahathir, to Kit Siang’s query on some “rumours about BNM losing money gambling forex“.

Anwar said that the rumour was not true at all.

When confronted, again by Kit Siang, a year later, Anwar said “the amount is not huge.”

The above engagements can be found in the Parliament Hansard.

After Murad’s revelation we know now that the amount is actually colossal.

We also know that U-Turn Mahathir as well as Daim Zainuddin were very much in the know of the losses.

And we know that Lim Kit Siang is just another opportunist snake manipulating the issue to gain support from the rakyat but now bats no eyelid to work hand-in-hand with his sworn enemy so he could come into power.

I am pretty sure he feels pleased looking at himself in the mirror every morning knowing he had blatantly lied to the people.

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wǔdǎyī!


Taqweem al-SeaDemon

March 2017
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