aJohari noted that the BNM and the country have since come a long way, especially in institutionalizing the necessary reforms and checking and balancing with respect to foreign currency forward transaction activities. Because of the scale of the speculative loss of foreign exchange activities, the Government was forced to transfer its shares in Telekom and Tenaga Nasional Berhad to BNM with nominal and Internal Audit Reports, he added, also highlighting that the magnitude of the speculative foreign exchange transactions was considered to be very excessive considering the shareholders