Ganesh Sahathevan

by Ganesh Sahathevan Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi  This story was first published on March 23 2010 and concerned Accenture Plc's consolidated earnings for all periods in which it operated its business in Malaysia. It is now updated with additional information on Shahrol Halmi, former CEO of 1MDB, and prior to that a senior executive at Accenture's Malaysian office. In March 2013 this writer reported: Accenture Plc, a major supplier of accounting and transaction services to the financial services industry worldwide has misstated its interest in its businesses in Malaysia. Consequently Accenture’s reported earnings may well have been overstated. Accenture has consolidated the earnings of the Malaysian incorporated Accenture Sdn Bhd claiming it to be a wholly-owned subsidiary. However the records of the Malaysian Government's Companies Commission reveal that Accenture Malaysia is owned b...

As reported in THE AUSTRALIAN: ABC managing director Mark Scott last night proposed a dramatic expansion of his organisation's services into Africa, Latin America and Asia, saying it would lift Australia's profile. "We have an important role to play and we have to use all the tools at our disposal to continue to do so," Mr Scott said in a speech in Sydney. "One of these tools is soft diplomacy -- using the media to put our nation's culture, views and policies on show." http://www.theaustralian.com.au/pm-propaganda-not-abc-role-nick-minchin/story-e6frgczf-1225794871714 But what of this inconvenient truth: By mid-1991, after Senator Evans had acknowledged the insensitive actions of a "number of different groups in Australia - some in the media, some in Parliament, and some in pressure groups in the wider community," Mahathir agreed that the Australian Government should not necessarily be blamed for the failings of the media. According to Mahathir...

According to THE EDGE: Popular Internet news website Malaysiakini.com is in talks on a tie-up with payment systems operator MOL AccessPortal Bhd, a company under the stable of Tan Sri Dat Seri (x9) Vincent Tan Chee Yioun. Sources said the discussions did not discount the possibility of an exchange of equity and both parties were currently negotiating a deal that would be of mutual benefit. (http://www.theedgemalaysia.com/business-news/152223-mol-malaysiakini-in-talks.html) Meanwhile, Malaysiakini continues to solicit donations (http://www.manage4me.com/donation/mkini/).It is unclear how donors will benefit from a share swap or any other deal involving the shareholders. Malaysiakini.com is owned and operated by Mkini Dotcom Sdn Bhd, a private limited company incorporated in July 1999. Mkini is a digital media company, focusing on Internet and other interactive media technology and information services. The Directors of the company are the founders of Malaysiakini.com Steven Gan and Prem...

Readers can decide for themselves from the reports below if it is wrong to conclude that the Malaysian taxpayer has and will for time to come, pay for Tony Fernandes's F1 Team. Readers should note that the team's "Sepang HQ" is still in its "planning stages", a euphemism , readers will agree , for money that is unlikely (and God willing will never have) to be spent. Malaysian taxpayers and others who might dispute the fact that it is Tony Fernandes's team are simply referred to this entry on the official Formula One website and the publicity that it has generated: Company Name: 1Malaysia F1 Team Sdn Bhd Team Name: Lotus F1 Team Country: Malaysia Team Principal: Tony Fernandes http://www.formula1.com/news/headlines/2009/9/9934.html According to Malaysian PM Najib: This is the Malaysian team. The car was designed at the SIC, manufactured at the SIC, tested at the SIC and the car is Malaysian-made. Even the pit-stop team consists of Malaysians,” he said. A...

As reported on 4 June 2009 by the ABC : Treasury official Godwin Grech told a parliamentary hearing the Prime Minister's Office and the Treasurer's Office made representations to him on behalf of a car dealer about the Government's multi-million dollar trust set up to support dealerships. The trust, known as OzCar, offers finance to car dealerships that have been affected by the global credit crunch. Mr Grech would not confirm if the calls were about Mr Grant, but said they were straightforward inquiries. "Both offices became aware of a situation facing a particular car dealer and they simply wanted - as you would expect a normal ministerial office to do - refer it to the relevant part of the bureaucracy to help the ... car dealer," he said. http://www.abc.net.au/news/stories/2009/06/04/2589652.htm As reported by THE AUSTRALIAN on 20 June 2009: When Senator Abetz asked Mr Grech whether Dr Charlton, whom the government claims Mr Turnbull threatened at Wednesd...

As previously reported the Australian Defence Recruitment contract has been awarded to Chandler Mcleod,a company that has recently reported both operating cash flow and cash balance deficits. (see story below). On 9 September 2008, just 2 months after the award of the contract Chandler sought and obtained an injection of funds from Lazard Carnegie Wylie, who are now Chandler's largest shareholder. As stated by Chandler: SYDNEY: 9 September 2008 - Chandler Macleod Limited (“Chandler Macleod” or the “Company”) today welcomed Lazard Carnegie Wylie Investment Management Pty Ltd (including it’s affiliates) (“LCWIM”) as a new cornerstone investor as part of a broader recapitalisation of the Company. “We are pleased that an investor of Lazard Carnegie Wylie’s calibre recognises Chandler Macleod’s strengths and opportunities and the confidence it has shown in the Company and its management team,” said Managing Director Ian Basser. “We believe the stability of Chandler Macleod’s business...

On 2 July 2008 The Minister for Defence Science and Personnel, Warren Snowdon MP, witnessed the signing of the new Australian Defence Force (ADF) Recruiting Services Contract with the ASX listed Chandler Macleod. The contract is valued at up to $405 million over the next five years. Mr Snowdon said that Chandler Macleod was selected by Defence following an extensive and competitive tender process conducted in accordance with Government Procurement Guidelines. Chandler replaced the much larger and better established Manpower Services Australia (http://www.manpower.com.au/about-manpower/about-manpower.aspx). Mr Snowdon’s assertion that “Chandler Macleod was selected by Defence following an extensive and competitive tender process conducted in accordance with Government Procurement Guidelines” needs to be seen in light of the following: In March this year Chandler announced that it had suffered a pre-tax loss of AUD 2,731,000 but a profit after tax of AUD 267,000 for the half...