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Share buy-back decision made to cover BNM’s losses

Mimi Sabreena 9:19:00 AM Informasi

PUTRAJAYA: The share buy-back of Tenaga Nasional Bhd (TNB) and Telekom Malaysia Bhd (TM) in the 1990s was to stop Bank Negara Malaysia (BNM) from falling into further losses, said former deputy prime minister Datuk Seri Anwar Ibrahim.

He said despite an end to foreign exchange (forex) trading in 1992, losses were still besieging BNM and the central bank was said to be insolvent.

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