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Tuesday, September 19, 2017

RCI’s final witness fails to testify, represented by his son

Former auditor-general Ishak Tadin’s son tells RCI panel his father is unable to remember activities during the time when Bank Negara allegedly lost billions while trading in foreign currencies.
Former auditor-general Ishak Tadin heading for the RCI hearing. He was represented by his son Rizal.
Former auditor-general Ishak Tadin heading for the RCI hearing. He was represented by his son Rizal.
PUTRAJAYA: Former auditor-general Ishak Tadin, who was the last witness called before the Royal Commission of Inquiry (RCI) investigating Bank Negara Malaysia’s (BNM) foreign exchange (forex) trading losses in the early 1990s, was unable to testify today due to health reasons.
Instead, he was represented by his son, Rizal Ishak, who told the 5-member RCI panel that his father had problems recalling what happened nearly three decades ago.
“He is unable to remember all the activities he was involved in when he held office. It is up to the panel to decide what to do next,” Rizal said after he was called by the RCI conducting officer Suhaimi Ibrahim.
Ishak, who was supposed to be the 25th witness, had been mentioned by a previous witness, former BNM senior auditor P Kanason Pothinker.
Kanason retired in 1992, and testified he was informed in 1993 by Ishak that BNM suffered huge losses resulting from forex trading.
He said Ishak did not tell him the amount of the loss “because I wasn’t his superior officer”.
In his testimony earlier, Kanason had told the RCI panel that “higher-ups” instructed him not to interfere in the matter concerning the forex losses.
The instruction was conveyed to him by a representative of the attorney-general Ainum Mohamed Saaid.
Ainum told the panel on Sept 6 that she did not remember anything about the instruction.
A total of 24 witnesses appeared before the RCI panel, including former prime minister Dr Mahathir Mohamad and two former finance ministers, Anwar Ibrahim and Daim Zainuddin.
The forex trading losses occurred during Mahathir’s premiership and the tenures of Anwar and Daim in the finance ministry.
The RCI was set up to investigate the alleged loss of US$10 billion (RM25 billion based on the exchange rate at that time) due to forex trading by BNM between 1991 and 1993.
The RCI panel is headed by Petronas chairman Mohd Sidek Hassan.
Its members comprise High Court judge Kamaludin Md Said, Bursa Malaysia CEO Tajuddin Atan, Special Task Force to Facilitate Business co-chairman Saw Choo Boon, and Malaysian Institute of Accountants member K Pushpanathan.
Finance Ministry strategic investment division secretary Dr Yusof Ismail is the panel’s secretary. -FMT

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