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Showing posts from May, 2021

1MDB's USD 620 Million held in Singapore seems to have been forgotten : Questions for both Muhyiddin and Lim Guan Eng; USD 620 Million can pay for very many Pfizer vaccines

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 by Ganesh Sahathevan  Reuters and other reported: Malaysia's government on Wednesday enacted a new emergency law allowing it to use funds derived from oil and gas contributions to pay for vaccine procurement, as it looks to ramp up its COVID-19 vaccination programme. The ordinance will allow the government access to use the 17.4 billion ringgit ($4.23 billion) parked under the national trust fund to secure vaccines "for an epidemic of any infection disease", according to the law published in the federal gazette. Meanwhile, despite the desperation Prime Minister Muhyiddin Yassin seems to be in no hurry to recover some USD 620 Million (plus interest) of 1MDB money that appears to be still held by Singapore's MAS. That money seems to have been ignored by former Finance Minister Lim Guan Eng (see story below) and now PM Muhyiddin.  TO BE READ WITh  Sunday, March 24, 2019 A Singapore academic asks Singapore Govt the question Guan Eng seems too afraid to ask: What's ha

NSW Budget 2020 & Contingent Liabilities: HCA decision in Council of the Law Society of New South Wales v Levitt suggests hidden potential liabilities, and strategies designed to limit the Dept Of Justice’s $ 492 Million in contingent liabilities

JUNE 23, 2019   by Ganesh Sahathevan   The recent decision of the High Court Of Australia in  Council of the Law Society of New South Wales v Levitt   may be relevant to the issue of contingent ,possibly hidden liabilities in the books of the various departments of the Government of NSW. Counsel for the Council of the Law Society Ms CA Webster SC said in submissions:   ……the Council, either  the Law Society Council or the Bar Council, or the Legal Services Commissioner,  having adopted the summary procedure, it would only be if someone were to seek to take a matter – no, I withdraw that. There will not have been any possible consideration of the conduct amounting to professional misconduct if anyone is proposing to deal with the matter under section 540, so it must be a subset. But there are, in addition to the matters enumerated, as we say, subject to some very slight winnowing of the numbers over time since our reply was filed,  some matters that had been put on hold pending the outc