The SC forces even Maybank offshore in search of oil exploration opportunities

by Ganesh Sahathevan

Elk Resources Ltd is an ASX company that specializes in enhanced oil recovery.It's new CEO Brad Lingo says he can provide a 15% return  with oil at $30.Elk's assets are in the US, and it is expected that in future the company will seek EOR projects in Indonesia and Malaysia.

Elk's main institutional  financial backer is Republic Investment Management Pte Ltd, an associate of Maybank Kim Eng Holdings Ltd,in turn  a wholly-owned subsidiary of Maybnak Bhd. Republic has some SING$ 100 million under management, and at least part of that money could have been invested in Malaysia's oil and gas SPACs, allowing them to do exactly what Elk is doing,and proposes to do.

Instead, given the SC's near criminal management of the SPAC market, these companies have been sent to the wall, and not allowed to pursue oil and gas opportunities around the world. Institutional investors in Malaysia interested in such opportunities are forced to look at Australia and other markets, depriving the Malaysian market of their capital.
The SC is to to blame for this sorry state of affairs.
END 

Comments

  1. Bak ImreApril 15, 2016 at 6:21 PM

    This comment has been removed by a blog administrator.

    ReplyDelete

Post a Comment

Popular posts from this blog

At the heart of the Muslim Legal Network NSW 's "Anti-terrorism laws: ASIO, the Police and You" booklet is the belief that Western civilization will soon collapse ;the "Great Lie" of democracy is first among its weaknesses.

Image
by Ganesh Sahathevani Mark Speakman ‏ Verified account   @MarkSpeakman Follow Follow  @ MarkSpeakman More Commemorating the opening of the 2019 Law Term at the #GallipoliMosque Auburn this evening with judges, lawyers (including @LSNSW_President ) and Islamic communities. 1:08 AM - 7 Feb 2019  from  Auburn Gallipoli Mosque The Australian Muslim Civil Rights Advocacy Network was co-founded by a UNSW researcher named Dr Waleed Kadous,who went on to work for Google,and then Uber. The other founder was his wife,Agnes Chong AMCRAN is best known for its "Anti-terrorism laws: ASIO, the Police and You" booklet, first published in 2006. In 2017 the following announcement  appeared on the AMCRAN website. Passing the Torch and Fourth Edition TUESDAY, 30 MAY 2017 As you can see from the fact that our last update was in 2009, AMCRAN has not been publicly active for some time. The laws, however, have continued to evolve and affect people in unintended ways. So over t...
Read more

Cost of NSW LPAB's PLT scandal must be disclosed as a separate item, and notes provided to explain clearly how the scandal came to be; cost must include provision for contingent liabilities

Image
 by Ganesh Sahathevan                                                                                    NSW LPAB's 23-24 Annual Report has additonal defeciencies  The   NSW LPAB's PLT scandal  is not cost free, and so far included the expemse of the URBIS survey, and the internal PLT working group review. It is likely that other costs have and will be incurred, in the course of unravelling a scandal that the  NSW LPAB would have been aware of since at least 2006.  There is also a paper trail to show  that the   NSW LPAB Executive Officer at the time, Louise Pritchard,  had personal knowledge of governance matters which concerned the PLT, but were however excluded from the NSW LPAB Annual Report 2018 (see story below). Gi...
Read more

Kärcher says its wet-dry vacuum cleaners are not built to withstand tipping over - Kärcher of Germany suggests replacement rather than repair, despite claims of "sustainable" corporate policies

Image
 by Ganesh Sahathevan  This worter bought a  Kärcher WD 2 Premium Wet & Dry Vacuum Cleaner (pictured above) trusting the brand name, and German technology. However , there was only  disappointment  for after just a  few infrequent uses, the machine lost suction after tipping over on its side, onto a carpeted floor.  Parts were replaced, tubes were checked for blockage, but nothing worked.  Kärcher was contacted, but disappointingly  Kärcher could only suggest that it would be better to buy a new unit , for that would be cheaper than even the cost of inspection by one of their authorised technicians. Another email was sent, this time to CEO   Hartmut Jenner. The long winded response is reproduced below in full, but the story is in the last paragraph: So based on these three factors, and that the unit has been tipped over, none of these are a warrantable defect, or simply a manufacturing defect. So this is why it was suggested tha...
Read more