LPAB foray into international politics, 1MDB and a HK IPO demand that the Chairman (the CJ NSW) sign off the annual reports.just like other chairmen

a


What the 1999 Annual Report of the German listed Beate Uhse AG has to do with the Legal Profession Board NSW's lack of proper disclosure requires explanation; now read on.

In August 2018 the NSW Legal Profession Admission Board (LPAB), which is part of the Department Of Justice, and under the purview of the Attorney General NSW Mark Speakman, issued a document which held this story that can be found on the Net to be true:


Ganesh Sahathevan, RPK, Clare Brown, Ginny Stein And The Blood Money Trail

The article was in fact an attack on the current Prime Minister of Malaysia, Mahathir Mohamad,accusing him of bribing the ABC's 4 Corners program to broadcast a false story about the then prime minister Najib Razak.


In doing so the LPAB implied that the 1MDB theft, described by former US Attorney General Jeff Sissons as the biggest case of kleptocracy in history, was in fact a conspiracy engineered by Mahathir,and this writer.


The circumstances that led to the above have not been included in the LPAB's 2017-2018 Annual Report, or in any other public statement from the LPAB. The LPAB and its chairman the Chief Justice Of NSW Tom Bathurst have maintained their silence despite the incident above being reported nationally by he Australian on 17 January 2019 in the story copied/pasted below.

This silence is reminiscent of the lack of information in the LPAB's annual reports about its dealings with the political donor Minshen Zhu, and its part in Zhu's HK IPO of his company, Top Education Group Ltd:


TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless

The background to the LPAB's involvement with Zhu is interesting also given the role played by LPAB member Dr Gordon Elkington :

NSW Liberal donor Minshen Zhu's Top Group, the LPAB,the AG,and Sharon Austen Ltd


Sharon Austem Ltd was a dot com era IPO promoted by among others Legal Profession Admission Board member Dr Gordon Elkingtoon.The company collapsed a year or so after its ASX debut in 2000 but information about its IPO is still available in the public domain.The German listed Beate Uhse AG 's 1999 Annual Report (cover above ) is one example.Kate Askew's Dot.bomb is another. In contrast, Dr Elkington's work at the LPAB which led to the 2018 IPO in Hong Kong of Top Education Group Ltd remains shrouded in mystery ,with the LPAB making only the most limited of disclosures.



The LPAB annual reports are unique in that the Chairman of the LPAB, the Chief Justice Of NSW Mr Tom Bathurst, does not sign them or put his name to it.Instead he appoints presiding members who do so. Given the above, that practise needs to end, and the Chairman, the Chief Justice NSW, should like all other chairmen sign off the annual reports of the entity he oversees.

END

LPAB foray into international politics, 1MDB and a HK IPO demand that the Chairman (the CJ NSW) signs off the accounts

a


What the 1999 Annual Report of the German listed Beate Uhse AG has to do with the Legal Profession Board NSW's lack of proper disclosure requiresexplanation; now read on.

In August 2018 the NSW Legal Profession Admission Board (LPAB), which is part of the Department Of Justice, and under the purview of the Attorney General NSW Mark Speakman, issued a document which held this story that can be found on the Net to be true:



Ganesh Sahathevan, RPK, Clare Brown, Ginny Stein And The Blood Money Trail


The article was in fact an attack on the current Prime Minister of Malaysia, Mahathir Mohamad,accusing him of bribing the ABC's 4 Corners program to broadcast a false story about the then prime minister Najib Razak.


In doing so the LPAB implied that the 1MDB theft, described by former US Attorney General Jeff Sissons as the biggest case of kleptocracy in history, was in fact a conspiracy engineered by Mahathir,and this writer.


The circumstances that led to the above have not been included in the LPAB's 2017-2018 Annual Report, or in any other public statement from the LPAB. The LPAB and its chairman the Chief Justice Of NSW Tom Bathurst have maintained their silence despite the incident above being reported nationally by he Australian on 17 January 2019 in the story copied/pasted below.



This silence is reminiscent of the lack of information in the LPAB's annual reports about its dealings with the political donor Minshen Zhu, and its part in Zhu's HK IPO of his company, Top Education Group Ltd:


TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless

The background to the LPAB's involvement with Zhu is interesting also given the role played by LPAB member Dr Gordon Elkington :

NSW Liberal donor Minshen Zhu's Top Group, the LPAB,the AG,and Sharon Austen Ltd








Sharon Austem Ltd was a dot com era IPO promoted by among others Legal Profession Admission Board member Dr Gordon Elkingtoon.The company collapsed a year or so after its ASX debut in 2000 but information about its IPO is still available in the public domain.The German listed Beate Uhse AG 's 1999 Annual Report (cover above ) is one example.Kate Askew's Dot.bomb is another. In contrast, Dr Elkington's work at the LPAB which led to the 2018 IPO in Hong Kong of Top Education Group Ltd remains shrouded in mystery ,with the LPAB making only the most limited of disclosures.

END

LPAB foray into international politics, 1MDB and a HK IPO demand that the Chairman (the CJ NSW) signs off the accounts

a


What the 1999 Annual Report of the German listed Beate Uhse AG has to do with the Legal Profession Board NSW's lack of proper disclosure requiresexplanation; now read on.

In August 2018 the NSW Legal Profession Admission Board (LPAB), which is part of the Department Of Justice, and under the purview of the Attorney General NSW Mark Speakman, issued a document which held this story that can be found on the Net to be true:



Ganesh Sahathevan, RPK, Clare Brown, Ginny Stein And The Blood Money Trail


The article was in fact an attack on the current Prime Minister of Malaysia, Mahathir Mohamad,accusing him of bribing the ABC's 4 Corners program to broadcast a false story about the then prime minister Najib Razak.


In doing so the LPAB implied that the 1MDB theft, described by former US Attorney General Jeff Sissons as the biggest case of kleptocracy in history, was in fact a conspiracy engineered by Mahathir,and this writer.


The circumstances that led to the above have not been included in the LPAB's 2017-2018 Annual Report, or in any other public statement from the LPAB. The LPAB and its chairman the Chief Justice Of NSW Tom Bathurst have maintained their silence despite the incident above being reported nationally by he Australian on 17 January 2019 in the story copied/pasted below.



This silence is reminiscent of the lack of information in the LPAB's annual reports about its dealings with the political donor Minshen Zhu, and its part in Zhu's HK IPO of his company, Top Education Group Ltd:


TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless

The background to the LPAB's involvement with Zhu is interesting also given the role played by LPAB member Dr Gordon Elkington :

NSW Liberal donor Minshen Zhu's Top Group, the LPAB,the AG,and Sharon Austen Ltd








Sharon Austem Ltd was a dot com era IPO promoted by among others Legal Profession Admission Board member Dr Gordon Elkingtoon.The company collapsed a year or so after its ASX debut in 2000 but information about its IPO is still available in the public domain.The German listed Beate Uhse AG 's 1999 Annual Report (cover above ) is one example.Kate Askew's Dot.bomb is another. In contrast, Dr Elkington's work at the LPAB which led to the 2018 IPO in Hong Kong of Top Education Group Ltd remains shrouded in mystery ,with the LPAB making only the most limited of disclosures.

END

Inflow of USD into Najib's AMBank account coincided with ANZ rigging USD-MYR forex market in Singapore

by Ganesh Saahathevan


Presented here as reported


As reported by The Star/Bernama:

An ex-banker who handled Datuk Seri Najib Razak's accounts at AmBank told the High Court here Monday (July 29) that RM1.13bil was transferred into the former premier's accounts between 2011 and 2013.

Joanna Yu Ging Ping, 48, who was formerly an AmBank relationship manager, said Najib received US$369.99mil in several transactions between 2011 and Jan 10, 2013.

The 54th prosecution witness said this during cross-examination by Najib’s lawyer Harvinderjit Singh on the 45th day of the accused's trial for misappropriation of SRC International Sdn Bhd funds totalling RM42mil.

Harvinderjit: The total amount of foreign funds transferred into Najib's account ending in 694 is US$369.99mil?

Yu: Yes

The above which has been revealed in court in Malaysia  is compared with this excerpt from a decision of the Federal Court Australia in Australian Competition and Consumer Commission (ACCC) v Australia and New Zealand Banking Group Limited [2016] FCA 1516 (14 December 2016)

This excerpt is from a statement of agreed facts between the ACCC and ANZ.

On ten occasions during 2011, traders employed by ANZ, which was a member of the relevant panel of submitting banks, engaged in discussions with traders employed by other banks, including other submitting banks, about the submissions that would be made concerning the Malaysian  ringgit  benchmark rate. 


On eight occasions during 2011, a trader employed by Macquarie engaged in the same sorts of discussions, though Macquarie was not itself a submitting bank. The traders employed by ANZ and Macquarie attempted to get the traders employed by the other banks to make either high submissions, or low submissions, as the case may be, and thereby manipulate the setting of the Malaysian  ringgit  benchmark rate. In so doing, they attempted to make arrangements which indirectly provided for the fixing of the price for Malaysian  ringgit  forward contracts. 


That is because the prices of those contracts were essentially determined by reference to the benchmark rates. ANZ, Macquarie and the banks whose traders participated in those discussions were in competition with each other in the market for Malaysian  ringgit  forward contracts. The arrangements that the ANZ and Macquarie traders attempted to make with the traders from the other banks therefore contained cartel provisions.


ANZ's management of AMBank included provision of forex expertise.
AMBank's business is predominantly in Malaysian Ringgit (MYR). It does appear as if ANZ took breached Australian law in order to handle an extraordinary influx of USD.

END 

To be read with:

ANZ chairman David Gonski and board oversaw the movement of money from 1 MDB via Najib’s accounts;Hsien Yang’s presence raises questions about Singapore’s inaction

MARCH 2, 2016 / REALPOLITIKASIA

by Ganesh Sahathevan

While ANZ’s new CEO Shyane Elliot continues to deny that he was on the AMMB board despite the evidence one group of people within the ANZ hierarchy have been happy to literally stay aloof from from their hired help. I refer here to ANZ’s chairman David Gonski and the ANZ board of directors, who include Lee Hsein Yang, brother to Singapore PM Lee Hsien Yang.

The board led by Gonski are ultimately responsible for governance, and Australian laws make it very hard if not impossible for Gonski and his board to play the lord who cannot be held responsible for the misbehavior of his servants.

David Gonski was appointed chairman of ANZ in February 2014.He was among others, a director of Singtel from 2012-2105. Gonski was therefore in charge of the board at the relevant time.

As Malaysiakini reported the matter of the SRC International transfers into Najib’s accounts:

For the December 2014 transaction, former 1MDB subsidiary SRC International Sdn Bhd transferred RM40 million to its subsidiary Gandingan Mentari Sdn Bhd on Dec 24 which was subsequently passed on to Ihsan Perdana Sdn Bhd on the same day.

A total of RM32 million from this amount found its way into two of the Ambank private bank accounts two days later, in two tranches of RM27 million and RM5 million.

Lee Hsien Yang’s membership of the board raises further questions about Singapore’s attempts to make  the 1 MDB scandal go away.

END 

Petronas awards RM 440 Million Pengerang maintenance contract to private Indian company based in Singapore -Award said to be via "closed tender".

by Ganesh Sahathevan

Posted as reported. The Indian company has a local partner, Science Tech Solutions Sdn Bhd (STS),about which little can be found.The contract is believed to have been awarded via a "closed tender".




Chennai-Based EDAC Engineering Limited’s Overseas Arm Bags Prestigious Long-Term Maintenance Contract From PETRONAS - Malaysia’s National Oil & Gas CompanyThursday, July 25, 2019 1:12PM IST (7:42AM GMT)

The long-term contract for maintenance of one of PETRONAS’ key facilities in Malaysia reaffirms the Companies Engineering & Project Management Skills
Chennai, Tamil Nadu, India: 

 
EDAC Engineering is a Chennai-headquartered leading Indian EPC and O&M player; it is an associate of SPIC. The cumulative value of this contract is estimated at MYR 440 million spread over a ten (5+5) year period.

STS EDAC, the JV was awarded the contract for maintenance of Petronas’ Refinery and Petrochemicals Complex in the PRPC Complex, Pengerang, Johor on 1st July 2019.

Chennai-headquartered EDAC Engineering today announced that its joint venture in Malaysia has won a prestigious long-term maintenance contract from state-owned PETRONAS. STS EDAC Engineering Sdn Bhd (STS EDAC JV), a joint venture between EDAC Engineering Limited (EDAC), India and Science Tech Solutions Sdn Bhd (STS), Malaysia was awarded the contract by Petroliam Nasional Berhad (PETRONAS), Malaysia’s National Oil & Gas Company.

The scope entails maintenance in Petronas’ Refinery and Petrochemical Plants of the Company (PRPC Complex) in Pengerang, Johor, Malaysia. The long-term maintenance contract re-affirms EDAC Engineering’s continuous focus on building high-end engineering and project management skills to service world-class clients across critical sectors like energy, power and manufacturing.

Congratulating the STS EDAC team on its achievements, Ashwin Muthiah, Chairman, AM International Group, Singapore & Principal Investor of EDAC and Chairman of SPIC said, “It is a privilege to partner with PETRONAS, one of Asia’s admired and giant national integrated oil and gas companies. Additionally, we have found a like-minded local partner in STS whose joint efforts is driving our success. We believe the ability to run complicated maintenance contracts for the efficient running of world-class energy assets like that of Petronas is proof of our engineering-led people strengths. I look forward to the company continuing in replicating similar successes for its customers both in India and globally.”

STS EDAC JV was awarded the MYR 440-million long-term maintenance Contract by PETRONAS on the basis of competitive bids from over one hundred participants (both within Malaysia and outside Malaysia). The “Group-wide Master Service Agreement (MSA) for Integrated Turnaround Main Mechanical & Maintenance Mechanical Static (TA4MS)” was presented to the company in March 2019 by way of Letter of Award.

The company went through detailed due diligence, and PETRONAS team got recommendations from current customers like Equate Petrochemicals Co (Equate), a Dow Chemicals’ JV with Kuwait Government & Kuwait National Petroleum Company (KNPC).

At the PRPC complex at Johor, STS EDAC JV has been appointed for the maintenance of a major refinery and petrochemical block comprising several process units and PRPC Utilities & Facilities & PRPC Power.

A contract award ceremony was held on 1st July 2019 at Kuala Lumpur, Malaysia. The ceremony was attended by the senior leadership team from Petronas, EDAC and STS. En. Samsudin Miskon, VP-Procurement from Petronas, Mr. Muhammad Nadzri Bin Mohd Nadzir, Group MD-STS and Mr. Mohd Shukri Bin Mohd Nadzir, CEO-STS and Mr. M. Nandakumar, MD-EDAC along with his team, Mr. B. Valavan Sr. VP and Mr. J. Hariharan, AGM- were present on this occasion.

About EDAC Engineering Limited: (Visit the website click here)

Incorporated in 1987 in Chennai, EDAC Engineering is one of India’s recognized EPC and O&M contractors for Balance of plant packages for power projects. It is an associate of SPIC and the company also undertakes Electro-Mechanical Erection for a wide variety of Industries along with Operations and Maintenance Projects for Power, Refinery and Oil & Gas Plants. It is part of AM International’s infrastructure vertical business.

About AM International: www.aminternational.sg

AM International is a diversified, multinational group of companies with a federated operating architecture. Headquartered in Singapore, it has been trusted by millions of customers for over six decades. Today, many of the group’s businesses are market leaders with footprints across South East Asia, India and the United Kingdom. The group’s business verticals include Fertilizers & Supply Chain, Petrochemicals, Infrastructure, Healthcare and Green Energy. The group’s CSR activities are helmed under the AM Foundation and its initiatives are focused on providing clean drinking water, preventing water contamination and solving the sanitation crisis.
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