Monday, December 16, 2019

Luconia Shoals saga continues: Malaysia discovers that China is not interested in its diplomacy , orders UN "not to consider Malaysian claim in South China Sea"

by Ganesh Sahathevan

Chinese warplanes take South China Sea exercises to new level :Latest drill transforms PLA’s approach in the disputed waterway from ‘passive’ to ‘proactive’ in marked contrast to previous war games .:SCMP






As reported on this blog last September:

China is particularly interested in asserting sovereignty over Luconia Shoals ,Chinese Coast Guard in strategy to bully Malaysia into submitting to at least de facto control




It is believed that Malaysian authorities are wary about antagonising China in any way regardless of the rights and wrongs, and hence remain conflicted as to whether the Malaysian flag should be replanted on Luconia Shoals, preferring instead to rely on the country's skills in diplomacy. 


However a  recent attempt at asserting sovereignty at the United Nations has been met with the usual contempt from the Chinese delegation.As reported by the South China Morning Post:

Beijing has accused Malaysia of infringing on its sovereignty after its Southeast Asian neighbour filed an extended shelf claim in the


disputed South China Sea
.
China’s permanent mission to the United Nations also urged the UN’s Commission on the Limits of the Continental Shelf (CLCS) not to consider Malaysia’s submission seeking to establish the outer limits of its legal continental margin beyond the 200 nautical mile limit.
“China has internal waters, territorial sea and a contiguous zone based on its Nanhai Zhudao [the South China Sea islands]; China has an exclusive economic zone and continental shelf. China has historic rights in the South China Sea,” the Chinese mission said in a diplomatic note to United Nations secretary general Antonio Guterres last week.
It said the submission by Malaysia, which was made on Thursday, had “seriously infringed on China’s sovereignty, sovereign rights and jurisdiction in the South China Sea”.
“The Chinese government seriously requests that the commission not consider the submission by Malaysia,” the diplomatic note said.
The Chinese foreign ministry on Monday said Beijing had also lodged representations with Malaysia, saying it had infringed on China’s sovereignty and violated “international relations norms”.

END 

See Also

China's Luconia Shoals adventures may add to Petronas production sharing contractors' costs -the Malaysian taxpayer bears the cost

by Ganesh Sahathevan


Scs1 1309off
Malaysia has much to lose by giving in to China.Apart from access 
to the basins that clearly lie within Malaysia's Exclusive Economic 
Zone,there is a system of oil and gas production and collection 
which has been built up over more than 40 years.


It has been previously reported on this blog that  China is particularly interested in asserting sovereignty over Luconia Shoals and that the Chinese Coast Guard (CCG) seems to have launched a campaign to bully Malaysia into submitting to at least de facto control of the Shoals and the South China Sea.


Meanwhile, the CCG's habit of having its boats harass if not at least shadow oil and gas company vessels is likely to add to the .costs they incur in their work as production sharing contractors for Petronas. Petronas gets a share of profit oil from the contractors, after they deduct their costs of exploration and production. Malaysia 's membership of ASEAN, and its participation in the ZOPFAN Declaration  has ensured a relatively trouble free South China Sea,,bar the problem of piracy.

Consequently PSC contractors have not had to incur the costs of protecting themselves against the risks of territorial conflict which can include. among other things, the costs of changes in regulatory regimes and the costs of guarding against aggression by the disputing parties.

Oil and gas exploration and even production is a highly speculative business and anything that adds to the risk profile can easily make even existing projects uncommercial.  As a result, Petronas may see a reduced quantum of profit oil, and future revenue may be adversely impacted.
The party ultimately bearing the costs is the Malaysian taxpayer, who will have to bear the burden of making up for a lower Petronas dividend.

The Malaysian Government must know all this, so why it would simply stand aside and allow China to do as it pleases is unfathomable.
END

SEE ALSO 


Sea-level lowstand of >120 m below present during the last glacial maximum (LGM) resulted in subaerial exposure of the majority of the Sunda Shelf and a dramatic increase in the land area of Southeast Asia. Modified from Sathiamurthy & Voris (2006). 

Sea-level lowstand of >120 m below present during the last glacial maximum (LGM) resulted in subaerial exposure of the majority of the Sunda Shelf and a dramatic increase in the land area of Southeast Asia. Modified from Sathiamurthy & Voris (2006). 

Source publication
Article
Full-text available
In order to predict the manner in which global sea-level change will impact the wide variety of coastal conditions and communities in Malaysia, this study sought to gain insight into the vertical components that determine the relationship between the coastal land areas of Malaysia and changes in sea level over time periods of millions to hundreds o...

Context in source publication

Context 1
... the LGM, with sea level >120 m below present, the Sunda Shelf was emergent (e.g. Hanebuth & Statteggar, 2004) ( Figure 5) with a defined drainage pattern, much of which represented down-stream extensions and confluences of present drainage systems (Molengraaff, 1921). It is presumed that drainage patterns during previous sea-level lowstands were similar and, with each succeeding sea-level cycle, river valleys backfilled and incised in response to changes in base level. ...

Citations

Sunday, December 15, 2019

Chan Chee Beng remains a director of a number of listed and private companies despite a "regulatory settlement" with the SC with regards insider trading of Maxis warrants:Is the leniency 1MDB related? .

by Ganesh Sahathevan 



Image result for chan chee beng





Chan Chee Beng is at present the man who runs Ananda Krishnan's Usaha Tegas Sdn Bhd.
He has since 1992 been the person in charge of all corporate finance matters. He is more than likely to have been involved if not been in charge of, the Tanjong-1MDB power station deals.
In 2015 the Securities Commission Malaysia made the following announcement.



REGULATORY SETTLEMENTS IN 2015

Regulatory Settlement with Chan Chee Beng

On 15 December 2015, Chan Chee Beng entered into a settlement with the SC in the sum of 


RM1,944,438.78 when he agreed without admission or denial of liability, to settle a claim that the SC

 was proposing to institute against him for communicating inside information contrary to section 8

89E(3) of the Securities Industry Act 1983 (“SIA”) to his late wife Yeoh Phaik Choo who then traded  in the call warrants of Maxis Communications Berhad (“Maxis”) between 23 April 2007 and 27 April 2007. 

The information is related to the notification from Usaha Tegas Sdn Bhd (UTSB), a substantial shareholder of Maxis that UTSB and its affiliates intended to launch a voluntary general offer through a special purpose vehicle for all the ordinary shares of Maxis, as set out in an announcement made by Maxis to Bursa Malaysia on 30 April 2007. 

Following this announcement, Maxis further announced on 3 May 2007 the details of the conditional take-over offer including the offer price of RM15.60 for each offer share. The settlement was reached following a letter of demand sent by the SC pursuant to its civil enforcement powers under the securities laws, where the sum Chan was required to disgorge was equivalent to 1.5 times the difference between the price at which Yeoh acquired the call warrants and the price at which the call warrants would have been likely to have been acquired at the time of the acquisition, if the information had been generally available. 


The monies recovered will be applied in accordance with section 90A(7) of the SIA. Chan at the material time was an executive director of UTSB as well as a non-executive director of Maxis.


The above would normally mean that the person or persons involved would be forever barred from holding any sort of position of authority in especially companies listed on the BursaMalaysia, or which control them, Chan remains in many of these;the questions does arise as to whether his too is a case of a 1MDB linked person being given special treatment by the BN and now PH governments.
The answers to question of why, what for and to whose benefit are questions that ought to be made public immediately.

END 




Former AG George Brandis raised questions about Zhu Minshen and Top Education Group which remain unanswered, but Zhu and Top are today even more entrenched in the NSW and Australian legal system, thanks to the NSW LPAB and its chairman the CJ NSW, and the AG NSW

by Ganesh Sahathevan

Hon George Brandis
Dr Minshen Zhu.Polticians constantly change their position
on matters and their allegiances, so Brandis being critical
of Zhu while being happy to be photographed with him is not
inconsistent, for a politician. 


In September 2016 then Attorney General Senator George Brandis raised the following questions about Zhu Minahen and his Top Education Institute, which remain unanswered:


Senator Dastyari's explanation, which ran to a mere 66 words, was woefully inadequate. It raised more questions than it answered. We now know that Senator Dastyari's benefactor, the Top Education Institute, is a Chinese company with links to the Chinese government, in particular through its principal, Minshen Zhu. Senator Dastyari must provide more information about this payment. He must explain to the Senate, as he significantly failed to do yesterday, why it is that this company paid a personal debt of his. What is the nature of his relationship with this company? Why has it chosen to act as Senator Dastyari's financial benefactor?


Why did Top Education Institute agree to pay what appears to have been a personal debt? By whom was Top Education Institute approached? Senator Dastyari must provide information to the Senate of all conversations and table in the Senate all documents that evidence the agreement whereby this debt was paid by Top Education Institute. He must also tell the Senate who at Top Education Institute was involved in arranging the payment of his personal debt. What was the nature of Senator Dastyari's relationship with Top Education Institute and with Mr Minshen Zhu? Was Mr Minshen Zhu involved in the making of the payment? Was Senator Dastyari or were any members of his staff aware of Mr Zhu's involvement?


Was Senator Dastyari aware of Mr Zhu's links with the Chinese government? At a press conference on 17 June 2016, Senator Dastyari stood alongside Huang Xiangmo, Chairman of the Yuhu Group, which is a substantial political donor with a history with Senator Dastyari. This Tuesday, 30 August, Mr Huang was reported in as having been quoted in Chinese media complaining that Australian MPs were 'not delivering' on donations from the Chinese community. Given the support for China's position on the South China Sea, delivered alongside Mr Huang in Sydney only this June, Senator Dastyari needs to answer whether he is in fact 'delivering' on the extensive support provided to him.


These questions remain unanswered but that fact does not seem to have troubled the NSW Legal Profession Admission Board, or its chairman, the Chief Justice Of NSW, Tom Bathurst:



Zhu Minshen announces that NSW LPAB review "went smoothly": AG NSW Mark Speakman and officers unconcerned by Clive Hamilton's disclosures of threats, intimidation and defiance of AFP directives ,share price collapse



That the former AG, who was once in charge of ASIO, raised these questions which remain unanswered raises serious questions about all involved in the process of letting Zhu and Top into a position of authority and influence in the NSW and Australian legal system:



The AG NSW and the Chief Justice Of NSW have by their decisions described above assumed the responsibility to ensure that the public are provided the answers sought by George Brandis.
END 

SEE ALSO

NSW LPAB found Zhu Misnhen's Top Group fit and proper to issue LLBs despite Top's links to Chinese government, tax havens, and a mysterious major shareholder -SMH investigation of 2016 reveals details which should concern ASIO, and cause investigation into the conduct of the NSW LPAB