FOREX RCI | The chairperson of the Royal Commission of Inquiry (RCI) on Bank Negara's foreign exchange losses Mohd Sidek Hassan has been urged to withdraw a "conclusion" he made about the losses last week.

At the start of today's proceedings, former premier Dr Mahathir Mohamad's counsel Mohamed Haniff Khatri Abdulla urged Sidek to withdraw his conclusion that the forex losses had amounted to at least RM31.5 billion between 1991 and 1994.

"We urge the chairperson to withdraw the conclusion which was announced to ensure the dignity of this commission will be maintained," said Haniff.

Sidek, then, continued with the proceedings.

"I thank the learned counsel for his assistance. We may proceed," he told the hearing at the Palace of Justice in Putrajaya today.

Haniff later told reporters that the panel had until the end of today's session to deliberate the matter among themselves.

He had earlier pointed out how Mahathir's legal team had protested against the conclusion made last week as it was "premature".

"On the second day, the commission did not make any daily conclusion," he acknowledged.

Haniff pointed out that a Malaysiakini article dated Aug 25 had reported Umno information chief Annuar Musa as saying that the RCI had concluded that the sum involved in the forex losses was more than RM30 billion.

"It is clear from that report, that the fear of confusion caused from premature conclusion has materialised," said Haniff.

As such, Haniff said it was not wrong for them to stress that it was incumbent upon them to ensure that the dignity and honour of the RCI must be maintained.

This would be in line with the Yang di-Pertuan Agong's decree that a report be submitted to him in three months' time. 

"We shall submit that this RCI makes these rulings; that any act of pronouncements cannot and should not be given conclusion and declared to the public until the recommendations are presented to the Agong.

"Otherwise, any such premature conclusion would be tantamount to a breach of the Agong's decree."

He noted that the Agong had specifically instructed the commission to present the report directly when the inquiry was concluded.

This instruction, he said, "negates any power for this commission to make any premature conclusion or to declare to the public before presenting (the report) to the Agong."

Sidek had said last week that the RM31.5 billion figure was purportedly concealed from Bank Negara's reports.

Voicing his protest, Haniff had claimed that Sidek had made an "unnecessary conclusion".