RCI hearing concludes earlier than scheduled

FOREX RCI | The Royal Commission of Inquiry (RCI) tasked to probe into billions of losses incurred by Bank Negara in foreign exchange has come to a close.

Proceedings were initially scheduled to end on Thursday.

On the eighth day of proceedings today, the commission's chairperson Mohd Sidek Hassan announced that today was the last day of the inquiry.

This, after 25 witnesses were heard and 42 documents were submitted during the proceedings.

"As chairperson of the RCI, representing all my colleagues, I would like to express gratitude to all involved; the conducting officers, counsel doing watching briefs, all witnesses who have testified in assisting the RCI.

"Commissioners will make findings based on statements as well as facts and will take into consideration all written submissions before we submit our recommendations to the Yang di-Pertuan Agong," said Sidek.

Earlier, conducting officer Suhaimi Ibrahim said three other witnesses had been listed but were not called before the RCI.

They are investigating officer R Rajagopal who recorded statements from the witnesses, Muhammad Shahril Othman, an investigating officer from the finance ministry and Chua Tiong Chin, who was a chief trader with Bank Negara.

"We believe he (Chua) is working in Singapore but we came to know he's now in Hong Kong. We used International Police Organisation (Interpol) to trace him but we still couldn't get him.

"I believe what he would say would be the same with what other traders had said so there is no need to call him," he said.

Apart from this, counsels representing Bank Negara, Pakatan Harapan chairperson Dr Mahathir Mohamad and the coalition's de facto leader Anwar Ibrahim are expected to file written submissions by Thursday.

Anwar's lawyer Gurdial Singh Nijar had requested that they are given more time to hand in the written submissions.

Sidek, however, said that he had a deadline to meet.

"Extra days given to you means less days for me, so (the deadline) remains on Sept 21."

Suhaimi had then requested if the written submissions could be submitted on Monday instead.

To this, Sidek said: "Are you overruling the chairman?"

Sidek then repeated that the submissions were to be filed by 5pm on Thursday.

During proceedings earlier today, Rizal Ishak took the stand in place of his father, former auditor-general Ishak Tadin who was supposed to be the 25th witness.

Rizal explained that his father - who was auditor-general from 1986 to 1994 - had developed a cognitive impairment, sometime in 2007.

"Nine years have passed, his condition has not gotten that much worse, but he is not able to recollect events that happened in the past."

Rizal said his father had trouble recollecting a lot of events and was unable to recall many things when the investigating officer showed him the relevant documents related to the proceedings.

"He remembers some personalities, that part of his long-term memory is still intact. But when it comes to work, unfortunately, he has a lot of difficulties (recalling).

"I thought that it's best and in the interest of the panel to consider alternative options."

Rizal then agreed to produce medical reports to verify his father's condition to the panel after being asked by Suhaimi to do so.

Asked by panel member Kamaludin Md Said on his father's age, Rizal answered that his father is 85.

"(But) if you ask him if he's 85, he will not think he's 85.

"He thinks he's much younger, he'll say he's 70."

Suhaimi then requested that Ishak is excluded from testifying.

The RCI is expected to submit its report to the Yang di-Pertuan Agong by Oct 13.

It was tasked to determine the veracity of allegations surrounding the forex losses incurred by Bank Negara and its implications on the national economy.

It must also determine if Bank Negara's involvement in forex activities contravened the Central Bank Ordinance 1958 or other related laws.

Finally, the RCI will decide if there were attempts to conceal facts and information regarding this as well as the issuance of statements which misled the cabinet, Parliament and public.

The forex scandal occurred during the 1980s when Mahathir was prime minister, but the RCI into it was only recently called, prompting certain quarters to accuse Prime Minister Najib Abdul Razak of attempting to exact political revenge against his nemesis.- Mkini