Ganesh Sahathevan

by Ganesh Sahathevan Senator Simon Birmingham has flagged a crackdown on predatory pricing.Source:Supplied‘This is a blatant rip-off of the taxpayer’: Training colleges facing audit of ‘predatory’ pricing In 2015 then Assistant Education and Training Minister Simon Birmingham said he found VET FEE HELP funded private colleges charging fees obviously in  excess of cost “absolutely concerning”. “I’ve written to and had communications with the ACCC with concerns about unscrupulous practices, not just in terms of sign-ups but also some pricing activity,” he said then. Three years later, now Minister of Education Simon Birmingham seems unconcerned by FEE HELP abuses by the College Of Law Sydney,which has a captive market in providing Professional Legal Training courses for the Legal Profession Admission Board NSW. The College's PLT course is FEE HELP funded for local students. Course delivery has suffered as a result of an on-line format that has reduced costs, and freed up funds ...

by Ganesh Sahathevan  Faiz is 1MDB exco chairman, part of PwC services to the company Interesting to see that PwC has broken a cardinal rule -you cannot audit yourself-in the search for fees.The Edge reported: 1Malaysia Development Bhd (1MDB) said yesterday Datuk Mohammad Faiz Azmi’s appointment as its executive committee (exco) chairman forms part of services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd (PwC) to 1MDB. “Pursuant to the announcement made on the appointment of the exco members on June 25, 2018, the board of directors is pleased to clarify that Datuk Mohammad Faiz Azmi’s appointment as the chairman of the exco is part of the scope and services provided by PricewaterhouseCoopers Advisory Services Sdn Bhd to 1MDB. “PwC is assisting the board and the exco in recovering 1MDB’s assets and in managing the company’s debt,” 1MDB said in a statement. On June 25, 1MDB announced Mohammad Faiz’s appointment to the exco that was entrusted with managing the day-to-d...

Nazifuddin Najib never fails to excite market but will he stay long enough in SerSol? by Ganesh Sahathevan Readers can come to their own conclusions of these matters all of which are in the public domain. In November 2014  Business Times Singapore reported : AUSTRALIAN firm Avestra Asset Management has been managing over US$2 billion of 1Malaysia Development Bhd's monies invested in several Cayman Islands funds. (see full story below)  Subsequently on 22 September 2015 The Australian reported: (ASIC)  alleges that one of the funds into which investor money was channelled, the Avestra Credit Fund, failed to disclose a series of investments that involved conflicts of interest. The largest was $US5.4m, about three quarters of the fund’s assets, loaned in May last year to Zenith City Investments, a company registered in tax haven Seychelles and run by Malaysian businessman Eddie Chai. “The circumstances in which the loan to Zenith was made suggest that it may have been used f...