LAWYERS representing Dr Mahathir Mohamad are urging Royal Commission of Inquiry (RCI) chairman Mohd Sidek Hassan to retract his statement that Bank Negara Malaysia (BNM) suffered RM31.5 billion in forex losses 25 years ago.

Lead counsel Mohamed Haniff Khatri Abdulla made the request at today’s proceedings, saying the “dignity and honour” of the RCI must be maintained.

“Otherwise, we humbly submit that any such premature conclusion and declaration is tantamount to a breach of the decree by His Majesty,” Haniff told the RCI.

“Therefore, we humbly urge Tan Sri chairman (Sidek) to officially retract and withdraw the conclusion, which was announced at the end of the proceedings on August 21.”

Sidek noted the request.

On the first day of the hearing, Sidek was reported to have said the “conclusion of the day” was that BNM’s losses between 1990 and 1994 totalled RM31.5 billion.

“We objected to that as it was premature (to make such a declaration) and it is not legally permitted until the proceedings are completed,” Haniff told reporters later.

“And to be fair to the commission, on the following day, a Thursday, there was no such conclusion made on any issue. However, what transpired was, on August 25, Annuar Musa of Umno made a damning remark, which was not proper.”

Annuar had, on Friday, said the losses were real and BNM could never recover from them.

The findings of the RCI are to be presented to the king on October 13.

“No conclusion should be made piecemeal and given to the public before the recommendation can be sent to the Yang di-Pertuan Agong,” said Haniff.

The forex losses occurred when Dr Mahathir was prime minister. He has maintained that he was not involved and that the losses were about RM10 billion, as reported by BNM in 1994.

Jailed Pakatan Harapan de facto leader Anwar Ibrahim was finance minister between 1991 and 1998, while Dr Mahathir, who now chairs the opposition bloc, was prime minister between 1981 and 2003.

Opposition lawmakers have called the inquiry politically motivated. – August 29, 2017.