Sunday, April 9, 2023

Australian tribunal rejects application by mining billionaire Andrew Forrest to build weirs across a river because it would anger the water serpent Warnamankura -Practise of Australian courts and tribunals taking judicial notice of Aboriginal beliefs likely to become more prevalent if Australia moves to "recognise" Aboriginals, their customs, tradition and beliefs in its Constitution

 by Ganesh Sahathevan 



The Western Australia  State Administrative Tribunal (SAT)has  rejected an application to build weirs across a river in WA because  it would anger the water serpent Warnamankura. The practise of  Australian courts & tribunals taking judicial notice  of Australian Aboriginal beliefs likely to  become  more prevalent  if Australia amends its Constitution to "recognise" Australian Aboriginals in its Constitution.

 The application was made by. Australian iron ore billionaire Andrew Forrest and wife while  the river is a registered Aboriginal Heritage Site sacred to the Thalanyji people.


The ABC reported: 

A pastoral company owned by West Australian billionaires Andrew and Nicola Forrest has lost an appeal to build an irrigation project in a Pilbara river sacred to traditional owners.

The State Administrative Tribunal (SAT) released a decision late on Thursday afternoon refusing an appeal by the Forrests of the controversial Section 18 provision of the Aboriginal Heritage Act

Thalanyji people believe the water serpent Warnamankura lives.

Warnamankura created the river, according to Thalanyji belief, and still travels up and down it to protect the country.

Traditional owners feared the weirs could kill the water serpent spirit in the river.

In the decision, Justice Janine Pritchard and two other tribunal members found the entirety of the river was of spiritual significance to the Thalanyji.

"We have found that in the Thalanyji culture, the river is regarded with deep respect and reverence," they wrote.

"From the Thalanyji people's perspective, the implementation of the ... project, which will affect the natural flow of the river, risks killing or harming the water snake, or causing the water snake to become angry.

Decisions of this type where   Australian courts & tribunals take  judicial notice  of Australian Aboriginal beliefs is likely to  become  more prevalent  if Australia amends its Constitution to "recognise" Australian Aboriginals in its Constitution, akin to  Malaysian courts taking judicial notice of race based affirmative action  policies based on Article 153 of the Malaysian Constitution. 


END 


See Also 



Saturday, December 31, 2022

It happened in South Africa, and in Malaysia, and it will happen in Australia if The Voice referendum succeeds - Linda Burney and other First Nation elders can look forward to board appointments, stock options, assignment of stock that will create a cohort of First Nation billionaires

 by Ganesh Sahathevan



PM Albanese has appointed First Nations leaders to guide referendum on Indigenous voice. They can be expected to enter the ranks of Australia's billioniares if the referendum succeeds.


Mosima Gabriel (Tokyo) Sexwale spent many year in prison alongside Nelson Mandela. He was released in June 1990.By 2004 Al-Jazeear was describing him in these reverential terms:

The best known of the new black elite are Tokyo Sexwale, once a communist and the former leader of the wealthy Gauteng province and Cyril Ramaphosa, who led negotiations for the African National Congress (ANC) with the apartheid government in 1994.

 

Sexwale, 51, drives a Jaguar and lives in a mansion in an upmarket suburb in Johannesburg and had trained with the Soviet Union’s military in the 1970s.

He later spent 13 years in prison with former president Nelson Mandela for his role in the anti-apartheid struggle.

In 1994, Sexwale was elected as premier of Gauteng province but was later lured into the private sector in 1998 when he established Mvelaphanda Holdings, which has interests in among others mining and financial services.


The value of Sexwale’s assets and other holdings are unknown, but his shares are estimated to be worth at least $223 million.


Sexwale and other ANC elites like he made a killing after they took power , and introduced into law black empowerment policies, which are meant to address "imbalances", in effect to reclaim from white South Africa what Africans see as being rightfully theirs. These policies are based on Malaysia's New Economic Policy affirmative action policy, which has also created a cohort of immensely wealth ethnic Malays. 


The Voice referendum promoted by Labor MP Linda Burney and other First Nation elders, and backed by Prime Minister Anthony Albanese,  can be expected to do the same in Australia, given its likely impact on every aspect of the economy, including mining. 

The mechanism by which First Nation billionaires are likely to be created if The Voice referendum succeeds are relatively simple, and importantly cashless, as as has been demonstrated in South Africa and Malaysia.

END 



Reference 



Saturday, April 8, 2023

Najib lawyer Shafee Abdullah's wife Tania Scivetti heads Australian uranium company that has proposed an AUD 20 Million IPO

 by Ganesh Sahathevan 

                    Shafee Abdullah and wife Tania Scivetti



Tania Scivetti,
wife of Najib Razak's lead 1MDB lawyer Shafee Abdullah, leads Oz Yellow Uranium Ltd, an Australian company that announced plans for AUD 20 Million IPO on the Australian Stock Exchange in November 2021.  
The deal involved Oz Uranium acquiring assets from ASX listed  Eclipse Metals. The deal seems to have stalled, but not abandoned, for reasons unknown. 









TO BE READ WITH 


Petra Capital cuts ties with Oz Yellow in Eclipse Metals (ASX:EPM) uranium sale
ASX News, Materials
ASX:EPM MCAP $34.47M

Josh SmithEditor, Companies & Marketsjoshua.smith@themarketherald.com.au10 February 2022 14:53(AEST)
2 mins






Eclipse Metals (EPM) is thrown a curveball in the planned divestment of its NT uranium assets after Petra Capital, which was meant to help facilitate the deal, drops out
Eclipse is planning to handball its NT assets to Oz Yellow, which will list on the ASX through a $20 million IPO as part of the exchange
Oz Yellow had appointed Petra Capital as lead manager, underwriter and book-runner to its IPO, but Eclipse says Petra has flagged its intentions to terminate its contract with Oz
Eclipse says it is in talks with Oz about what to do moving forward
Eclipse shares were down 6.38 per cent to 4.4 cents

Eclipse Metals (EPM) has been thrown a curveball in the planned divestment of its Northern Territory uranium assets after Petra Capital, which was meant to help facilitate the deal, dropped out.

Eclipse said in an announcement to the ASX that Petra was intending to terminate its deal with Oz Yellow, to whom Eclipse was planning to handball its NT assets. Eclipse did not specify why Petra made the call.

Oz Yellow and Eclipse first announced the divestment plan back in November 2021, with Eclipse agreeing to sell its interests in its Ngalia Basin uranium prospects and the Liverpool Uranium Project to Oz Yellow for a mix of cash and scrip.

As part of the deal, Oz Yellow planned to list on the ASX through a $20 million initial public offering (IPO), with Eclipse to receive 60 per cent of the newly listed entity’s shares in return for the NT assets. Oz Yellow would also pay Eclipse $255,000 in cash and grant the company a 4 per cent net smelter royalty over the tenements.

According to Eclipse, Petra Capital had been appointed sole lead manager, underwriter and book-runner to the Oz Yellow IPO, though the contract between Oz and Petra was conditional.

It seems one or more of the contract conditions must not have been met by Oz Yellow, however, with Petra today scrapping the deal and pulling out of its obligations.

At this stage, it’s uncertain what the loss of Petra Capital means for Eclipse, Oz Yellow and the uranium asset deal. Eclipse said it was in talks with Oz Yellow about how Petra’s decision impacted the potential deal and what the companies planned to do now.

Eclipse said it would update investors as discussions progressed.

The news has dealt a blow to Eclipse’s share price, which was down 6.38 per cent to 4.4 cents at 1:46 pm AEDT.
EPM by the numbers


Thursday, April 6, 2023

Was George Pell the distraction Vic Police Commissioner Graham Ashton needed given his failure in the case of Zulfikar Shariff- Meanwhile still no explanation from Grahan Ashton and Lisa Neville about the phone call to Pell while in prison

 by Ganesh Sahathevan 


Graham Ashton was Commissioner Of Police, Victoria, between 2015-2020. He came to the Victoria Police Force in 2009 ,from the Australian Federal Police, where he had made a name for himself as an expert on terrorism, given his work in Indonesia after the Bali bombing.  Between 2003 and 2004 Ashton was appointed to the role of National Manager, Counter Terrorism, with responsibilities for managing global AFP resources in the field of Counter Terrorism investigations.


However, despite his record, it was under Ashton's watch that the well known Al-Qaeda supporter Zulfikar Shariff began his campaign in support of ISIS in Melbourne. Zulfikar had fled Singapore for Melbourne in 2002 where he continued with his pro Al-Qaeda activities. Zulfikar, a citizen of Singapore, became an Australian citizen sometime between 2002 and 2013.


His  campaign in support of ISIS included Facebook posts such as this:


December 22, 2013 via mobile

Walking along Craigieburn Rd and saw little green birds flying.
Wonder if I will ever be in the little green birds flying freely in Paradise.
And my Rabb asks me if I need anything.
Insha Allah. Amin




Then there were postings of this type:
Zulfikar Shariff

December 14, 2013 via mobile
Looking at the snow and ice covering the Middle East, I am reminded of this hadith:
On the authority of Thawbaan (May Allah be pleased with him), the Messenger of Allah said:

"If you see the Black Banners coming from Khurasan go to them immediately, even if you must crawl over ice, because indeed amongst them is the Caliph, Al Mahdi."


Zulfikar Shariff
January 12 via mobile

Yes Ariel Sharon is dead. But Israel and its murderous, brutal leaders is still there. So what are we doing about it?

In mid 2016 the Government Of Singapore detained  Zulfikar Shariff pursuant to the provisions of its Internal Security Act, for his actions in support of ISIS in Melbourne and Singapore.  It is safe to say that but for action taken by the Government Of Singapore, Zulfikar may have endangered lives in Melbourne in furtherance  of his jihadi  activities.

Inaction in the case of Zulfikar Shariff would have reflected badly on Graham Ashton while he was chief of police.  However his pursuit of George Pell commenced in February 2016 had made him into something of a state and national hero. The High Court's 7-0 acquittal in 2020 demonstrated the many flaws in that investigation and prosecution which was brought by Ashton , but by then Ashton had retired. It does seem now, looking back, that Pell was the distraction that Ashton needed to draw attention away from his failure to keep the state safe from the real danger of terrorism. 
The case of Zulfiakr Shariff adds to the reasons Ashton would have wanted to ensure that Pell never appealed his conviction. He has yet to provide an action for that mysterious phone call. 

To Be Read With 



George Pell 's prison telephone interview suggests highest levels of Vic Police feared a High Court appeal well before Vic Sup Crt CJ Anne Ferguson even heard Pell's appeal -Entry in Pell's prison journal raises questions that former Vic Police chief Graham Ashton and Police Minister Lisa Neville must answer

 by Ganesh Sahathevan 

                                                              

                              Graham Ashton, Lisa Neville


George Cardinal Pell-Prison Journal Volume 1 , The Cardinal Makes His Appeal  includes this entry for 4 April 2019: 

I then had a strange interview over the phone with a female member of the Placement Assessments Unit who asked two questions of me.

This was organized by a quiet courteous man who remained with me after calling up my questioner.

" Did I know the choirboys who had been molested in the cathedral?"

" Did I intend to lodge an appeal?", I was then asked, as they had no record of this. This was surprising as the appeal was lodged before my sentencing and I already have the date for the  appeal hearing on June 5-6.

The appeal was heard on June 5 and 6 2019, and a three judge panel led by Chief Justice Anne Ferguson handed down their decision rejecting the appeal on 21 August 2019. 


The Placement Assessments Unit is part of Corrections Victoria  It is  managed by the Sentence Management Branch of Corrections Victoria.  Its duty is to manage prisoner reception and management, and it has nothing whatsoever to do with the judicial system. The Minister in charge at the relevant time was Lisa Neville, Minister for Police.

The question " did I know the choirboys who had been molested in the cathedral" should not concern Corrections Victoria but would have concerned Victoria Police prosecutors who brought the case against Pell contrary to advice from the DPP Victoria. The Chief Of Police who oversaw the Pell investigation, and who was in office when the above incident occurred was Graham Leonard Ashton.

 The officer who questioned Pell  about his knowledge of the choirboys  is not likely to have formulated and initiated that question on her own. These are the questions that a lawyer or interrogator might ask to entrap a suspect, but in this case the suspect had already been convicted.

Ashton and Neville have both retired, but they must now provide answers to what appears to be a clumsy attempt at entrapment, after Pell had been convicted, and which could have only been initiated at the highest levels of Victoria Police. 

The second question seems contrived for the matter of Pell's appeal to the Supreme Court NSW was well publicised. 
It does therefore  seem likely  that Pell's interrogator's questions were intended to  frustrate any appeal by some form of threat with what could have been put forth as fresh evidence. Graham Ashton remained defiant to the end that he had no issue with how police had handled the case before charging Pell. There would therefore have been no reason to be concerned about Pell's Victorian Supreme Court appeal. It does seem however that Victoria Police were concerned about the prospect of a High COurt appeal, even before the Supreme Court appeal had been heard.



END 








Wednesday, April 5, 2023

Malaysia's Anwar Ibrahim says China’s Rongsheng Petrochemical Co Ltd will invest up to RM 80 Billion in a refining facility in Pengerang- Rongsheng will be in competition with the beleaguered Petronas Pengerang RAPID refinery

 By Ganesh Sahathevan 

                                                  

              Anwar and Xi Jinping- Anwar has proposed an Asian Monetary Fund,which may be to Malaysia's detriment


Edge Markets  has repeorted:

China’s Rongsheng Petrochemical Co Ltd will invest up to RM80 billion for a refining facility in Pengerang, Johor, according to Prime Minister Datuk Seri Anwar Ibrahim.

“The world’s largest petrochemical company Rongsheng has agreed to increase its activities in Malaysia with a petrochemical, oil and gas refining facility in Pengerang, with a project value of up to RM80 billion,” Anwar told the Dewan Rakyat on Tuesday (April 4).

It is not clear how Anwar intends, or expects, the above to alleviate the problems faced by Petronas and its RAPID Refinery in Pengerang. As Prime Minister Anwar has sole and ultimate responsibility for Petronas. 


TO BE READ ITH 


Saturday, April 1, 2023

Saudi Aramco will invest in refineries in China, and will prioritise supply of oil to China - Deal announced recently might leave Petronas Rapid gasping for oil

 by Ganesh Sahathevan 

      Fires and other mechanical issues may be the least of the Aramco-Petronas RAPID JV's problems


CEO World quoting Saudi Aramco CEO Amin Hassan Naseer  reported on  23 March 2023: 

Aramco said Monday it has agreed to acquire 10% of Rongsheng Petrochemical Co. Ltd. for $3.6 billion as part of its downstream expansion in China. The deal with Rongsheng sees Aramco supplying 480,000 bpd of petroleum from Saudi to what it said is China’s biggest integrated refining and chemicals plant.

“Among other assets, Rongsheng owns a 51% equity interest in ZPC [Zhejiang Petroleum and Chemical Co. Ltd.], which in turn owns and operates the largest integrated refining and chemicals complex in China with a capacity to process 800,000 bpd of crude oil and to produce 4.2 million metric tons of ethylene per year”, Aramco said in a press release.

The announcement came a day after Saudi Aramco said its joint refining and petrochemical complex in Panjin City, Liaoning Province in northeast China, is due to start construction in the second quarter. Expected to cost over $12 billion, the project includes a refinery that can produce up to 300,000 barrels per day (bpd).

Earlier Aramco said the Huajin Aramco Petrochemical Co. (HAPCO) joint venture, where the Saudi company has 30 percent ownership, will begin construction for the Panjin integrated refinery and petrochemical complex by June.


In 2021 this writer asked where Saudi Aramco's plans to "prioritise energy supply to China" would leave Petronas RAPID in Pengerang with regards Aramco's promise to supply 70% of RAPID's feedstock. 

Now, with the commitment to build refineries in China, there will be no need for RAPID's products either. It does appear that RAPID is going be left dry, without supply.

The first signs of trouble emerged in 2017 when Saudi Aramco pulled out of an agreement to invest in RAPID. Saudi Aramco did however agree to supply 50-70% of the project's crude oil feedstock.  That did not come as a surprise to this writer, who noted that even at the outset, Aramco never said anything about a cash commitment. 


END 



Sunday, March 21, 2021

Saudi Aramco to prioritise energy supply to China for half a century- Where does that leave Petronas RAPID at Pengerang?

 by Ganesh Sahathevan 



Aramco has not said it is investing 
will be in crude oil, not cash




Saudi Aramco has announced that it will prioritise energy supply to China for half a centur
y. The guarantee appears to be for a supply of crude, not refined products.


Meanwhile Saudi Aramco has undertaken to  meet most of the crude feedstock requirements of the PETRONAS RAPID refinery in Pengerang. That deal has been controversial from the outset (see below); it will be interesting to see if Saudi Aramco remains in a position to fulfil its obligations to RAPID.

Note that the Saudi guarantee to China says nothing about refined product from RAPID. 


TO BE READ WITH 



Sunday, March 26, 2017

RAPID refinery " needs a specific type of crude oil "-Petronas executive VP Md Arif Mahmood explains why RAPID refinery will not be as advanced as public were led to believe

by Ganesh Sahathevan





The RAPID refinery is meant to be a very modern refinery  capable of turning virtually any crude oil into  high end products (the technical term is high complexity).

Modern refineries are not supposed to rely on any particular crude for it makes them beholden to a particular supplier or suppliers; but here we have Petronas executive VP Md Arif Mahmood (photo above) insisting :

"This refinery (Rapid) needs a specific type of crude oil that will allow us to make the necessary cut to supply to the petrochemical plants".


END 


Petronas defends RM31b joint venture with Saudi Aramco



In the wake of concerns raised over alleged attempts to sabotage the nation's economy, Petronas has defended its decision to pursue a RM31 billion deal with Saudi Aramco for the Refinery and Petrochemical Integrated Development (Rapid) in Pengerang, Johor.

English-daily The Malay Mail quoted Petronas group executive vice-president Md Arif Mahmood as saying that it was "never forced into the joint venture" and had always been eyeing a partner like Aramco.

"How can we be forced to do this deal? We were looking for a partner that would complement the project.

"We are not selling Rapid as reported. It’s a 50-50 partnership," Md Arif is reported as saying in an interview.

The Rapid project is part of Petronas’ Pengerang Integrated Complex (PIC), estimated to cost as much as US$27 billion.

"We are looking for partners to invest and co-invest. And selling and co-investing are very different," he pointed out.

Md Arif also said not many people were aware that discussions between Petronas and Aramco have been ongoing since 2014.

"The discussions with the Saudis took more than two-and-a-half years. They looked at the due diligence of the investment opportunities.

"It is not like it is only yesterday we decided to partner Aramco," he said in describing the partnership as being "an obvious and perfect" one.

The deal signing was formally witnessed by Prime Minister Najib Abdul Razak and Saudi King Salman on Feb 28 as part of the king's agenda while on a state visit to Malaysia.

Md Arif dismissed as "not credible" reports that said senior Petronas officials were against the joint-venture with Aramco and had to be forced into it.

"I am going to make this very clear. It had to be within the terms agreeable, not only for us but agreeable to both parties before we could actually get to the stage where we are now," he stressed.

Among others, Md Arif said, Rapid would be supplying at least 50 percent of the 300,000 barrels of crude oil to be refined a day at its facilities.

On reasons for partnering with Aramco, he said Petronas needed a partner that would be able to leverage its strength and manage the risks at the same time.

"Why Aramco? It is the biggest crude supplier in the world with a supply capacity of 10 million barrels a day," he said.

"This refinery (Rapid) needs a specific type of crude oil that will allow us to make the necessary cut to supply to the petrochemical plants.

"To have a crude supplier as a partner, for long-term crude security, that itself is a good reason why Aramco," Md Arif added.


Najib last week accused a former leader of spreading lies about Malaysia, which he said had nearly scuttled the deal between Petronas and Saudi Aramco.

In the veiled attack apparently aimed at Parti Pribumi Bersatu Malaysia chairperson Dr Mahathir Mohamad, Najib lamented that the opposition would rather create false propaganda than to engage on facts.

END 
References

Crude oils have different quality characteristics
graph of Density and sulfur content of selected crude oils, as described in the article text
Source: U.S. Energy Information Administration, based on Energy Intelligence Group—International Crude Oil Market Handbook.
Notes: Points on the graph are labeled by country and benchmark name and are color coded to correspond with regions in the map below. The graph does not indicate price or volume output values. United States-Mars is an offshore drilling site in the Gulf of Mexico. WTI = West Texas Intermediate; LLS = Louisiana Light Sweet; FSU = Former Soviet Union; UAE = United Arab Emirates. 

Republished: June 26, 2013: Map was corrected.
Many types of crude oil are produced around the world. The market value of an individual crude stream reflects its quality characteristics. Two of the most important quality characteristics are density and sulfur content. Density ranges from light to heavy, while sulfur content is characterized as sweet or sour. The crude oils represented in the chart are a selection of some of the crude oils marketed in various parts of the world. There are some crude oils both below and above the API gravity range shown in the chart.

Crude oils that are light (higher degrees of API gravity, or lower density) and sweet (low sulfur content) are usually priced higher than heavy, sour crude oils. This is partly because gasoline and diesel fuel, which typically sell at a significant premium to residual fuel oil and other "bottom of the barrel" products, can usually be more easily and cheaply produced using light, sweet crude oil. The light sweet grades are desirable because they can be processed with far less sophisticated and energy-intensive processes/refineries. The figure shows select crude types from around the world with their corresponding sulfur content and density characteristics.



References-Wikipedia

Jump up^ "Nelson Complexity Index" (PDF). pakpas.org. Retrieved 3 November 2016.
Jump up^ "Nelson Index". investopedia.com. Investopedia. Retrieved 3 November 2016.
Jump up^ David C. Johnston; Daniel Johnston (2006). Introduction to Oil Company Financial Analysis. PennWell Books. p. 199. ISBN 9781593700447. Retrieved 3 November 2016.
Jump up^ Johnston, Daniel (March 18, 1996). "Refining Report Complexity index indicates refinery capability, value". ogj.com. Oil and Gas Journal. Retrieved 3 November 2016.
Jump up^ "PMI-Oman 2014". pmioman14.wordpress.com. Retrieved 3 November 2016.
Jump up^ Nelson's Complexity Factor (PDF), Reliance Industries Ltd, retrieved 2009-02-28

Tuesday, April 4, 2023

Malaysia's PM and Finance Minister Dr Anwar Ibrahim wants to dump the US dollar for the Yuan, proposes an Asian Monetary Fund - Meanwhile, Malaysia's foreign reserves are denominated in US Dollars

 by Ganesh Sahathevan 






Malaysia's PM and Finance Minister Dr Anwar Ibrahim wants to dump the US dollar  for the Yuan, as part of his proposal for an Asian Monetary Fund .

He has not said anything about the implications his proposal will have for Malaysia's foreign exchange reserves , which are still stated in Ringgit and US Dollars. 

See  Excerpt 





Detailed Disclosure of International Reserves as at end-January 2023

Embargo : Not for publication or broadcast before 1200 on Tuesday, 28 February 2023
28 Feb 2023

In accordance with the IMF SDDS format, the detailed breakdown of international reserves provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, and the expected and potential future inflows and outflows of foreign exchange of the Federal Government and Bank Negara Malaysia over the next 12-month period.

The detailed breakdown of international reserves based on the SDDS format is shown in Tables I, II, III and IV.

  • As shown in Table I, official reserve assets amounted to USD115,164.1 million, while other foreign currency assets amounted to USD4.7 million as at end-January 2023.
  • As shown in Table II, for the next 12 months, the pre-determined short-term outflows of foreign currency loans, securities and deposits, which include among others, scheduled repayment of external borrowings by the Government and the maturity of foreign currency Bank Negara Interbank Bills, amounted to USD16,298.1 million. The short forward positions amounted to USD26,543.9 million as at end-January 2023, reflecting the management of ringgit liquidity in the money market. In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans. Projected foreign currency inflows amount to USD2,277.5 million in the next 12 months.
  • As shown in Table III, the only contingent short-term net drain on foreign currency assets are Government guarantees of foreign currency debt due within one year, amounting to USD371.1 million. There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks and other financial institutions. Bank Negara Malaysia also does not engage in foreign currency options vis-à-vis ringgit.

Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as at end-January 2023, Malaysia’s international reserves remain usable.