Mixed ownership reform is starting in earnest in China, and it's going to cost healthy companies a fair amount of money.
Former Bank Negara Malaysia (BNM) assistant governor, Datuk Abdul Murad Khalid has alleged that former Malaysian finance minister Anwar Ibrahim was told the truth about forex losses made during a scandal in 1994, and commented that he could lose his job over it. Abdul Murad told The Royal Commission of Inquiry (RCI) on Monday (Aug 21) that Anwar had asked him to join him on his flight to Hawaii "to provide an explanation on the forex losses, as instructed by then BNM Governor Tan Sri Jaffar Hussin," The Star reported. “After my explanation, Anwar also made a remark that if indeed the actual losses of the BNM forex (issue) were made public he, as finance minister, would have to step down,” he reportedly said in his testimony. When the scandal broke in the 1990s, the foreign exchange losses were estimated to be around RM9 billion. But in January this year, Abdul Murad claimed that it was closer to US$10 billion. Murad also testified that he had informed Tan Sri Jaffar Hussein on the matter in 1992 but was "scolded" as the then-governor did not believe him. “The governor did not believe me, scolded me and told me to discuss it with (Banking Department manager and advisor) Tan Sri Nor Mohamed Yakcop," he said. Yesterday, RCI also revealed that approximately RM31.5 billion in forex trades was lost between 1991 and 1994, New Straits Times reported. RCI chairman Tan Sri Mohd Sidek Hassan, was quoted by NST as saying:“We have made the finding today that BNM lost RM31.5 billion, and the figure was hidden from the Bank Negara reports." "We have to find out who asked for it to be concealed,” he added.
One of Floyd Mayweather’s first opponents says he sees a change in Mayweather’s fighting style and thinks he has the recipe to beat him
Since losing to Floyd Mayweather in 1998, Sam Girard has kept up with Mayweather's career and believes his controversial fighting style is not all bad.
Kuala Lumpur/Jakarta - Malaysia has apologised to Indonesia over the upside down printing of the Indonesian flag in a souvenir guidebook handed out at the opening of the Southeast Asian Games. The mistake, spotted at the opening of the games in the Malaysian capital, Kuala Lumpur, on Saturday sparked an outcry in Indonesia and the hashtag #ShameonyouMalaysia was trending on social media. Indonesian President Joko Widodo told reporters in the Indonesian capital, Jakarta, the incident concerned "national pride", and had called for an apology. Indonesian Youth and Sports Minister Imam Nahrawi also expressed dismay, posting pictures of the mistake on his Twitter account. "It was a good opening ceremony but spoiled by this fatal negligence that was very painful," he said. His Malaysian counterpart, Khairy Jamaluddin, tweeted an apology. "There was no malice intended," Khairy said. Khairy was expected to meet Indonesia's delegation to formally apologise on Sunday. Indonesia's flag has two horizontal bands with red on the top and white underneath. Turning it upside down, makes it look like Poland's flag. The Malaysian Organising Committee also apologised saying it had been "an inadvertent error". The flag blunder was the latest in a series of embarrassing incidents at the regional sports meet. Last week, a bus driver ferrying the Myanmar women's football team was arrested on suspicion of stealing a watch and for not possessing a driver's license.