PPBM Youth says if Mahathir is guilty of losses suffered, then Umno leaders and cabinet members too are equally at fault

KUALA LUMPUR: A Parti Pribumi Bersatu Malaysia (PPBM) Youth leader today urged its counterparts in Umno to learn the difference between ‘lost funds’ and ‘stolen funds’.

This is following Umno Youth vice-chief Khairul Azwan Harun’s call to set up a Royal Commission of Inquiry (RCI) to investigate Bank Negara’s multi-billion ringgit foreign exchange (forex) losses in 1991. He also wanted the RCI to investigate the Bumiputera Malaysia Finance Limited (BMF) scandal.

Selangor PPBM Youth chief Adhif Syan Abdullah said that the losses suffered in the controversial BMF scandal and forex deals – occurred during PPBM chairman Dr Mahathir Mohamad’s premiership- were losses suffered in investments.

“The BMF scandal is being recycled to attack Tun (Mahathir). BMF is an investment and there are up and downs in investment,” Adhif said in an exclusive interview with Berita Daily.

Adhif, who was formerly the Sepang Umno Youth exco, said that it was baffling that the BMF scandal was recycled to attack Mahathir while current premier and Umno president Najib Razak himself is linked with a major scandal in the form of 1MDB.

“BMF suffered losses in investment…while 1MDB funds were stolen.

“Umno Youth is falling in its own trap. What did we get back from the 1MDB investment? Why not set RCI for 1MDB too?”

PPBM Youth chief Syed Saddiq Abdul Rahman yesterday also said that he was open on the RCI in regards to the BMF scandal but insists that a thorough probe is done, including on Mahathir’s cabinet members then, which includes Najib.

“Don’t forget that Mahathir’s era is also Umno’s era.

“If Mahathir is guilty (for the forex losses), it means the whole of Umno who defended him is also guilty.

“If Mahathir is to be punished, all Umno members who defended him should also be punished in kind,” he said in a Facebook posting.

Khairul Azwan on Monday lodged a police report over the 1991 forex losses and urged an RCI probe, claiming that the central bank had lost US$180 billion from forex trading exposures and forex trading losses, and had gone bankrupt.