Sunday, October 27, 2019

Vincent Tan's Berjaya Media, defended by NSW AG Speakman in financial strife, faces delisting :Echoes of Tan's Carlovers ,which Speakman insists was wronged despite NSW Supreme Court decisions

by Ganesh Sahathevan

Troy Grant MP
NSW AG Mark Speakman SC is considered a
future premier of NSW,

The Malaysian financial daily The Edge has reported over the weekend:

Berjaya Media Bhd has failed to find a white knight to regularise its financials, resulting in the suspension of the trading of its securities starting next Tuesday (Nov 5).
In an exchange filing today, the group, which publishes theSun newspaper, said it could be delisted subsequently on Nov 7, unless an appeal against the delisting is submitted before the date of suspension.
“Berjaya Media has failed to [enter] into a definitive agreement with a proposed white knight by Oct 20, 2019, as stipulated in Bursa Securities’ letter dated June 25, 2019 and the company's application for a further extension of time to enter into the definitive agreement and to submit its regularisation plan to the relevant authorities for approval had been rejected by Bursa Securities,” read the filing.
The group, in which tycoon Tan Sri Vincent Tan holds a 38.9% stake, will continue to exist as an unlisted entity upon the delisting, and that it will still be able to continue its operations and business, as well as proceed with its corporate restructuring and rewarding of its shareholders, according to the announcement.
Shares in Berjaya Media, which lapsed into PN17 status in June 2017,  were not traded today. The stock was last done at 20.5 sen on Oct 23, for a market capitalisation of RM48.19 million.
As reported earlier on this blog (see story below) NSW AG Mark Speakam SC and his officers at the LPAB, which is chaired by the Chief Justice Of NSW Tom Bathurst,  havw determined, more than 15 years later, that the landmark decision of the NSW Supreme Court NSW in the matter of Carlovers Carwash & Ors v Sahathevan that the decision was not about the rights of journalists but was rather a condemnation of this writer's work in investigating the business interests of the Malaysian businessman Vincent Tan Chee Yioun.
As reported below,  Speakman and his LPAB's defence of  Tan remains unexplained despite Tan's colourful history of interfering with Malaysia's judicial system.
Berjaya Media's  financial problems add to the questions surrounding  Speakman and his colleagues determination to defend Tan's Band his business interests, including Berjaya Media.
Speakman and his colleagues  have  chosen to associate themselves with some of South East Asia's more colourful businessmen and in doing so they have gone so far as undermine the two NSW Supreme Court decisions in the Carlovers matter


Tuesday, October 15, 2019

NSW AG Mark Speakman and his LPAB's defence of Malaysian businessman Vincent Tan remains unexplained despite Tan's colourful history of interfering with Malaysia's judicial system

by Ganesh Sahathevan

Troy Grant MP

NSW Libs received donations of $44,275 from TOP Education Grosup 

Earlier this year this writer explained how the AG NSW Mark Speakman and his officers at the LPAB, which is chaired by the Chief Justice Of NSW, Tom Bathurst, undermined the protection provided journalists, whistle blowers and sources by the Carlovers v Sahathevan ,Bond v Barry  decisions. 

The Carlovers' decision and the surrounding facts which were put before the NSW Supreme Court, which included this writer's highly publicised sacking from The Sun in Malaysia, included one of Malaysia's most colourful businessman, one Vincent Tan Chee Yiuon,who owned The Sun.

Tan has a history of judicial interference, which is even more widely publicised. In 1998 his interference with the judiciary led to the current Attorney General of Malaysia, Tommy Thomas being found in contempt of court. 

in 2008 Tan's interference with the judiciary, via his lawyer VK Lingam, became the subject  matter of a Royal Commission into judicial corruption. 

All of the above and more are matters of public record, but ignored by Speakman who seems intent on drawing ever closer to Asian businessmen of Chinese origin. 

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