Mohd Sidek appointed as head of task force to probe BNM forex losses

KUALA LUMPUR: Tan Sri Mohd Sidek Hassan, the former chief secretary to the government has been appointed by the cabinet to head a task force that will conduct a preliminary probe into Bank Negara Malaysia's (BNM) foreign exchange losses in the 90's.
In a statement released today, the Prime Minister's office (PMO) said that the task force will be designated to carry out the initial investigation on the bank's losses which arose from speculation activities in forex transactions.
Other than that the task force will also investigate the extent of an information cover up and whether there was the possibility of misleading statements on the matter which was delivered during parliament sittings.
The PMO said that the configuration of the specific terms would precede fact-finding steps which include analysing the Parliament Hansard at that time, past minutes of cabinet meetings, Auditor-General's reports, and past BNM documents.
The statement also read that other task force members will be announced soon.
"They will comprise those with experience and necessary skills to uncover and verify documents to ascertain the truth.
"The investigation will be carried out in a transparent manner and will be independent and just, in accordance with the terms of reference," read the statement.