My Anthem

Friday, August 14, 2015

Ah, BANK NEGARA Governor ZETI Finally Breaks her "Elegant silence"!

TODAY I'm happy for BN -- not BARisan NASional lah, but BANK NEGARA! -- GOVERNOR ZETI AKHTAR AZIZ, who, answering DESi's prayer yesterday,  finally broke her "Elegant silence" after months of solitude. HER long silence had budded speculators, especially in the NEW MEDIA, who had been variously rumoured that ZEti had suffered a "HEart attack", or been sacked, been investigated for graft, or or she had resigned. BUT ALL'S WELL, meanWHILE, OK!

I Find that COPY&PASTRY from the star online is the easiest compared with other MSM OR ONLINe portals as from the latter, I sometimes LOSE THE  big pictures, hence the huge blankspaces, but DESi and you, daer ER,  CAn't complain as it's all free of charge, and BEGGARS CAN"T BE CHOOSERS!

YOU wanna aMORE, please GO SURF THE online star, cun! FURTHermore, LAZy BUMMER DESi's back writhing altho' officially he's given notis he's on a weak sabbatical leave:(

PS: PLS NOTE ALL THE HIGHLIGHTS BOLDED AND/or REDDED THUS, ARE ALL DESI's work, knot the moon nor the star's, not yours, or SB EITHer! YL, DESI, knottyaSsusual


Published: Friday August 14, 2015 MYT 12:00:00 AM
Updated: Friday August 14, 2015 MYT 11:32:39 AM

Bank Negara conducted informal probe for two years

KUALA LUMPUR: Without naming names, the central bank has disclosed that it raised concerns on a “highly leveraged entity” over the past two years to the relevant authorities.
Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz said the central bank had been monitoring the entity during its yearly assessment of the financial system and had carried out an “informal investigation”.
Asked why the central bank only opened up a formal investigation in June this year into 1Malaysia Development Bhd (1MDB), Zeti said the entity had already caught its attention earlier.
“We monitored them, we engaged with them, and for two years actually, and we wrote and submitted reports on them,” she told a packed press briefing yesterday.
Zeti, who took care not to mention the name 1MDB, said a “leveraged entity” would be assessed during the yearly meeting to determine whether the debts it carried posed a risk to the financial system.
She explained that a Monetary Policy Committee and a Financial Stability Committee under the central bank look into “highly leveraged entities” that represent risks.
“So, when we look at a highly leveraged entity it represented a concern.
“And we did highlight that to various authorities that should be aware of it and we wrote reports on it. We monitored and engaged with the entity itself throughout this period,” she said.
Zeti said among other things, these committees looked at household debts and all other areas that represent risks.
She added that the investigation focused on the company’s foreign and international investment activities.
Zeti explained that Bank Negara conducted a formal investigation after it became part of the special taskforce in June.
“The investigation was a long one because it was a complex process.
“We conducted our formal investigations by taking statements from various people involved and looking at thousands of documents. We worked round the clock. Now it’s been completed,” said Zeti.
The investigation papers have been forwarded to the new Attorney-General, Tan Sri Mohd Apandi Ali.
“The bank has submitted its investigation papers to the A-G, with recommendations for appropriate action. And I want to reiterate that the bank is prohibited by law to publicly discuss any detail of the investigation.
“If we are called by the Public Accounts Committee (PAC), then that is the only other avenue where the bank will be able to respond to questions on this investigation,” stressed Zeti.
The PAC hearings, however, have been temporarily suspended because its chairman, Datuk Seri Nur Jazlan Mohamed, and three other members are no more backbenchers after being appointed as a minister and deputy ministers in the recent Cabinet reshuffle.
A special task force comprising the Malaysian Anti-Corruption Commission, Bank Negara and the police was set up in June to investigate 1MDB’s operations and its accumulated RM42bil debt.
The task force, however, was disbanded on Aug 5 after Mohd Apandi took over from Tan Sri Abdul Gani Patail. The three agencies were then ordered by Mohd Apandi to work independently.
Tags / Keywords: Government, 1MDB, Bank Negara, Zeti Akhtar






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    PR STAR2:


    Published: Friday August 14, 2015 MYT 12:00:00 AM
    Updated: Friday August 14, 2015 MYT 9:12:31 AM

    Zeti coolly fields questions from the media

    KUALA LUMPUR: Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz was calm and poised in her first public appearance after coming under siege over issues surrounding 1Malaysia Development Berhad and the special task force investigating it.
    Zeti, who wore a string of pearls and a royal blue floral baju kurung, took all the questions from the media with a smile during the two-hour long press conference.
    She answered every question without hesitation.
    Zeti, who looked a little frail, blamed it on a persistent cough.
    Surprised at the 100-odd reporters and photographers from the Malaysian and foreign media, she said: “This must be a record turnout, and we hope we will live up to your expectations.”
    The conference room was packed because there were also about 80 representatives from the corporate sector and government.
    At one point, Zeti, who seemed uncomfortable with the constant flash and clicking of the cameras, asked photographers to stop taking photos of her.
    She was careful with her choice of words when she referred to the US$700mil (RM2.6bil) that was deposited into Prime Minister Datuk Seri Najib Tun Razak’s bank account.
    Asked whether she was informed about it, Zeti replied she could only speak within the confines of the law.
    She referred to a prepared statement when commenting.
    “This is what I can say. Otherwise, the moment I step out of this door, I will face arrest for talking about individuals’ accounts,” she joked.
    “I am sure you do not want that to happen,” Zeti replied cheekily.
    On allegations against Bank Negara and her, Zeti said: “There is no truth to the allegations against me personally and against the central bank.
    “Many of the allegations are made by anonymous people.
    “We will seek to identify who they are and take legal action against them.
    “Right now, we do not know who they are. We have some ideas, follow-up leads as to who they are, but they have been anonymous so far.”
    Zeti turns 68 at the end of this month. Asked if she had a birthday wish, she said she was raised to observe birthdays and anniversaries as any other day.
    “My father always said that you buy something for someone not when there is a birthday or anniversary.”
    She said her husband had the same view and so their recent 50th wedding anniversary was “just another day”.






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    PPS: SINCE I NO Gave you No peg, no controls..."  report, can I compensate by sharing a similar story to 'RM2.6billion" deposited into PM's personal account?'

    IF SOME details are not correct to the dot, excuse me OK! IF YOU don't like reading it, pls get the here out of hell, but make sure you have a million, that's the price the warden at HEAven's gate demands for entree!

    OK, back to juicy story -- sorry for the kaypoh digress:(~~

    "ONE cool morn, the STAR staffers --(NOT STUffers OK! I WAS dare for 5 Years and am gladfool, OK, but regret leaving 2-3years early!)  -- checked their bank accounts at end-month, and found TO THEIR HORROR!, happy one lah may I ADD, there is a surplus of several thousand or tens of thousand ringgit in my account!" as they told their story one by wan to colleagues and lustly, to the HUMSAN RESOURCE MANAGER.

    COOL duke HRM told them: "IT"s OK, your surplus DID NOT COME FROM ANy philanthropist local OR ABROAD. ...not from an angel or broad either!  THE STAR management wants to reward your hardwrok le! "

    "A few of the reporters wanted to go to the POLIS to buat lapuran -- "What if some dadah traffickers banked the RM... into my AC... And later confront me at my RUMah?" wanguysaidinallHONESTY&humility, as reported by my buddy ASS.EDITOR.

    AT That stage, my source, then still an ASS.EDITOR, at the Star said "THE management has generously gifted us se7EN extra months' BONUS LAH!" 

    DARE&THEN I sighed the LOUDEST SIGH EVER, but still, I ate double the normal KAPITAlist lunch our SDR NEWSdog.gifted.with7months'.extra TREATED US!

    "SORRY, SDR CHONG and .., you misinformed wans left the STAR a few BYTES EARLY!" he added with realSYMPATHY, spying the GREENEYES in us listeners.

    PS: AWe OF the STAR STAFFers stuffed themselves krazy wit' SOCialist-turned-KAPItalist BF-lunch-cum-dinner-supper the sext few weeks. SOME 20-30% vicely changed into new TOYOTA, VOLVo and other velvet brandsed cars lah, and my EYESwentGREENER! YL, DESI, nomoregreenI-I,  But still knottyaSSeswei!


    OK, I GOtcha, BIZSTAR!

    Business News

    Bank Negara to maintain managed exchange-rate regime

    Friday, 14 August 2015
    KUALA LUMPUR: Bank Negara will not peg the ringgit and institute capital controls for the country even though the ringgit has fallen against the US dollar to its lowest levels in 17 years.
    Governor Tan Sri Dr Zeti Akhtar Aziz said that while the drop in the ringgit was unsettling, the central bank is confident that the ringgit would rebound and reflect its fundamentals once the United States raised its interest rates.
    “I want to categorically emphasise that we do not expect to peg the currency. The fact that we have a flexible exchange rate regime helps our country to adapt because if the exchange rate doesn’t adjust, then prices and demand has to adjust. I want to add that we are not implementing capital controls as well,” she told the media after announcing gross domestic product numbers for the second quarter.
    Questions over the possible introduction of a ringgit peg and capital controls have been raised, as the ringgit has depreciated rapidly against the US dollar and other currencies.
    Government officials have denied plans for such a move.
    Zeti said volatility is expected to continue until there is certainty in policy direction to be taken in the major economies like the US and Europe.

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