Najib unveils inquiry into massive forex losses under Mahathir's watch

Kuala Lumpur

AS pressure builds on the back of additional complaints last week by the US Department of Justice seeking to recover a further US$540 million worth of assets it said were misappropriated from 1MDB, Malaysia's embattled Prime Minister Najib Razak appears to be upping the ante against his biggest adversary Dr Mahathir Mohamad.

On Wednesday night, the Prime Minister's office (PMO) issued a statement saying that a Royal Commission of Inquiry would be convened to look into the billions of ringgit in foreign exchange losses incurred by Bank Negara Malaysia (BNM) in the 1980s and 1990s.