Showing posts with label Singapore. Show all posts
Showing posts with label Singapore. Show all posts

Saturday, 4 February 2017

Malaysia refers to declassified British files in seeking revision of ICJ ruling on Pedra Branca

Malaysia has cited three documents recently declassified by the United Kingdom to support its application for a revision of an International Court of Justice (ICJ) ruling on Pedra Branca.


Straits Times Graphic
Straits Times Graphic
Saturday, 4 February 2017 | MYT 11:42 AM
SINGAPORE - Malaysia has cited three documents recently declassified by the United Kingdom to support its application for a revision of an International Court of Justice (ICJ) ruling on Pedra Branca.

They are: internal correspondence of the Singapore colonial authorities in 1958, an incident report filed in 1958 by a British naval officer, and an annotated map of naval operations from the 1960s, the ICJ said in a press release on Friday (Feb 3).

The documents were discovered in the UK National Archives between Aug 4, 2016 and Jan 30, 2017, the release added.

"Malaysia claims that these documents establish the new fact that 'officials at the highest levels in the British colonial and Singaporean administration appreciated that Pedra Branca/Pulau Batu Puteh did not form part of Singapore's sovereign territory' during the relevant period," it said.

"Malaysia argues that 'that the Court would have been bound to reach a different conclusion on the question of sovereignty over Pedra Branca/Pulau Batu Puteh had it been aware of this new evidence'."

Pedra Branca, some 40km east of Singapore and at the eastern entrance of the Singapore Strait, is known as Pulau Batu Puteh by Malaysia.

Britain, and later, Singapore, had maintained control over the island since the 1850s until Malaysia staked its claim to the island in a 1979 map.

The dispute saw both neighbours refer the case to the ICJ, which is based in the Hague, the Netherlands, in 2003.

The Court found on May 23, 2008 that sovereignty over Pedra Branca belongs to Singapore, sovereignty over Middle Rocks belonged to Malaysia, and sovereignty over South Ledge belongs to the State in the territorial waters of which it is located.

A key consideration in its decision was a letter dated Sept 21, 1953, in which Johor's top official informed the British authorities in Singapore that "the Johor government does not claim ownership of Pedra Branca". The Court said in its 2008 ruling it considered this letter and its interpretation of central importance for determining the understanding of both parties about sovereignty over the island, and found Johor's reply showed that as of 1953, it understood that it did not have sovereignty over Pedra Branca.

ICJ's release on Friday (Feb 3) comes as Malaysia's Attorney-General Apandi Ali said in a statement the same day that his country had applied to revise the 2008 judgment a day earlier.

Mr Apandi said the bid was made "upon the discovery of some fact of such a nature as to be a decisive factor, which fact was, when the judgment was given, unknown to the Court and also to Malaysia as the party claiming revision." He did not elaborate.

A spokesman for Singapore's Ministry of Foreign Affairs (MFA) said on Friday that Malaysia had informed Singapore that it had made an application for revision of ICJ's judgment.

"Singapore is studying Malaysia's application and documentation closely and has formed its legal team to respond to Malaysia's application," he said.

The team includes Attorney-General Lucien Wong, Professor S.Jayakumar, Professor Tommy Koh and former Chief Justice Chan Sek Keong.

In its release, the ICJ noted that Malaysia based its application on Article 61 of the ICJ's Statute, which provides that an "application for revision of a judgment may be made only when it is based upon the discovery of some fact of such a nature as to be a decisive factor, which fact was, when the judgment was given, unknown to the Court and also to the party claiming revision, always provided that such ignorance was not due to negligence."

The request for revision must be submitted within six months of the discovery of the new fact, and not later than 10 years from the date of the judgment.

"The proceedings for revision are opened by a judgment which decides whether an application for revision is admissible, that is, whether the above conditions have been fulfilled," ICJ added.

The Court noted that Malaysia, in its application, contends that "there exists a new fact of such a nature as to be a decisive factor within the meaning of Article 61".

Malaysia also asserts that the new fact was not known to Malaysia or to the Court when the judgment was given because it was "only discovered on review of the archival files of the British colonial administration after they were made available to the public by the UK National Archives after the Judgment was rendered in 2008", the ICJ said.

"Malaysia also argues that its ignorance of the new fact was not due to negligence as the documents in question were 'confidential documents which were inaccessible to the public until their release by the UK National Archives'," it added.

Malaysia has asked the ICJ to adjudge and declare its application for revision of the 2008 judgment is admissible.

It has also asked the Court to fix time-limits to proceed with consideration of the merits of the application, ICJ said. - The Straits Times
http://www.thestar.com.my/news/nation/2017/02/04/malaysia-refers-to-declassified-british-files-in-seeking-revision-of-icj-ruling-on-pedra-branca/

Thursday, 10 November 2016

Singapore names Jho Low as person of interest in 1MDB-linked probe

The island nation's Commercial Affairs Department (CAD) says it is investigating elusive Malaysian tycoon Jho Low ...

Thursday, 10 November 2016 | MYT 1:56 PM



SINGAPORE: The island nation's Commercial Affairs Department (CAD) says it is investigating elusive Malaysian tycoon Jho Low (pic), his close business associate Eric Tan Kim Loong, and Mohamed Badawy Al Husseiny in relation to the money-laundering operation linked to 1Malaysia Development Board.
CAD investigation officer Oh Yong Yang told the court on the eighth day of the trial of former BSI banker Yeo Jiawei that the three men are "persons of interest" in the CAD's probe of the "complex, sophisticated and largest money laundering case involving billions of dollars in transactions".
The men, among others, are also being investigated in other jurisdictions, Oh said. Low and Tan are subject of the CAD probe since 2015, he added.
Yeo, who is on trial for four counts of obstructing justice, allegedly told Amicorp how to structure funds for entities supposedly linked to the legitimate Aabar Investments PJS, a unit of Abu Dhabi state fund International Petroleum Investment Co (IPIC).
 Oh told the court that entities Aabar Investments PJS Ltd (Samoa) and Aabar International Investments PJS Ltd (BVI), along with two others Aabar Investments PJS Ltd ( Seychelles) and Aabar Investments PJS Ltd (BVI) featured in the CAD's investigations involving Yeo, Tan, Low Al Husseiny and others.
When asked by the prosecution if these entities were linked to the legitimate Aabar Investments PJS, Oh said "CAD has strong reasons to believe the four companies aren't related to the sovereign wealth fund." – The Straits Times/Asia News Network

Friday, 4 November 2016

In secret meeting, ex-BSI banker Yeo allegedly tells friend Samuel Goh: "We die, we die together"


By: 
Chan Chao Peh



SINGAPORE (Nov 3): It began as a budding friendship between two men, forged over after-work suppers of prata and teh tarik.
But the two, both well-versed in the finer aspects of finance, soon found themselves wading deeper into murky waters, filled with enigmatic offshore entities and millions of dollars in “secret profits”.
Now, one of the men finds himself in the dock as the accused – with his friend testifying against him.
Former BSI wealth planner Yeo Jiawei, who worked for Malaysian financier Low Taek Jho, is on trial for four charges of tampering with witnesses, including his friend, Samuel Goh Sze Wei.
Goh on Thursday testified in court as the prosecution’s sixth witness.
Yeo faces seven other charges related to money laundering, which will be heard in April next year.
Over the past two days, the court had already heard from Yeo’s former supervisor at BSI Bank, Kevin Swampillai.
Swampillai had testified that Yeo and himself had created entities to siphon off “secret profits” between 2012 and 2014, behind the back of their former employer, Swiss private bank BSI.
Goh got involved when he introduced Bridge Partners International Management (Cayman) Limited (BPIM) to BSI. Yeo then roped him in to help hold an intermediary entity called Bridge Global Managers Inc (BGM).
BGM was used to re-route money creamed off from 1MDB into two other entities – Bridgerock Investment Inc (BR) and GTB Investment Ltd (GTB). Yeo and Swampillai were the beneficial owners of BR and GTB, respectively.
For his involvement, Goh received at least US$300,000.
“[Yeo] came across as very intellectual, very smart, very self-confident and knows his work very well; he’s always directive, very clear, and an expert at what he does,” said Goh, a CFA-qualification holder who is now unemployed.
“He is careful with his investments – a shrewd investor, and quick and good with numbers,” Goh added.
Goh said the Yeo was already taking steps to cover their tracks even before the Commercial Affairs Department (CAD) started active investigations. For example, when instructing Goh’s bank in Hong Kong to transfer the funds, Yeo told Goh to indicate that these were “investment fees” instead of “referral fees”.
“I’m not certain why,” said Goh, when asked if he knew why Yeo gave this instruction.
In late October, Yeo informed Goh that he had been questioned by the CAD. Yeo claimed that his ex-colleague at BSI, Yak Yew Chee, had tried to “put all the blame” on him.
Yeo advised Goh to take a job overseas if he could. But Goh declined.
“The only [thing that] came to my mind was it was very inconvenient,” Goh told the court.
Goh explained that while being interviewed by CAD was not a good experience, he believed that he had done nothing wrong.
“I asked [Yeo] again [if] anything with the fiduciary fund structure is wrong,” said Goh. “He said ‘no’.”
However, things turned tense between the two in March this year.
On March 16 and 17, Goh was questioned by investigators from the CAD. Yeo, who was also questioned, saw Goh at the police station. After they left the station, Yeo tried to contact Goh.
But Goh did not pick up his friend’s call as CAD investigation officers had instructed him not to. Two days later, on March 19, Yeo made an unannounced visit to Goh’s house.
“He wanted to explain what’s happening, that there’s a misunderstanding with CAD and wanted to apologise,” said Goh.
Yeo offered to buy Goh a pre-paid SIM card – separate from their primary mobile lines – so that the two could continue to keep in touch. Goh declined.
Instead, Goh chose to buy one himself.
“There was a construction site near where my mom stayed, where I'm staying, and I procured it from one of the construction workers there,” Goh told the court.
And the two men did keep in touch.
Together with Swampillai, Yeo and Goh met at around 10pm on March 27 at the Swiss Club. Goh claimed to have done so “reluctantly”, as he knew it was against the instructions of the CAD officers.
During the meeting, Goh alleged that Yeo said all three of them had to “hold hands” by concocting an “investment story” that the money flowing from BGM into BR and GTB had come from Goh, and was investments in Indonesian real estate, shares, and even Yeo’s father’s company.
“I remained quiet throughout. I thought that doesn’t sound very credible,” said Goh.
According to Goh, the meeting between the trio ended with Yeo saying something to the effect of: “We die, we die together.”
Goh and Yeo shared a car ride immediately after the meeting. It was during this journey that Yeo told Goh: “This was the best solution, the only solution”. Yeo also reminded Goh not to disclose that the March 27 meeting took place.
However, on April 5, Goh was interviewed again by the CAD. This was when he decided to sing on Yeo.
Goh claimed to reveal “the truth” to investigators, instead of the “investment story” which Yeo had allegedly spun.
“What do you mean by ‘truth’?” Deputy Public Prosecutor Tan Kiat Pheng asked Goh in court.
Goh replied that the money transferred to BR and GTB were referral fees, and not investments done on behalf of BGM.
On further questioning by DPP Tan, Goh said that these transfers were neither his money nor his investments.
Aabar
In his cross examination, Yeo’s lawyer Philip Fong tried to portray Goh as an active participant in the whole scheme, and had specifically earned referral fees for his role.
Fong asked if Goh could recall a transaction in 2014, where Yeo had sought Goh’s assistance to set up a fund for Aabar Investments PJS. Goh replied that he knew the client as Aabar, but was unfamiliar with its full name.
Back in July this year, a BVI entity with the same name – Aabar Investments PJS Limited – featured in a complaint filed by the US Department of Justice.
The US authorities noted that, in 2012, 1MDB officials and others had diverted more than 40% from net proceeds of two bond offerings, or some US$1.367 billion, into an account belonging to this Aabar.
The bond offerings were guaranteed by both 1MDB and International Petroleum Investment Company (IPIC), an investment fund owned by the government of Abu Dhabi.
Following the DOJ complaint, IPIC clarified that the BVI entity is not IPIC’s affiliate, even though it bore a similar name to Aabar Investments PJS, a legitimate IPIC subsidiary.
Goh said he knew about Aabar from Yeo.
According to Swampillai’s earlier testimony, Yeo worked for Low Taek Jho, and purportedly drew a salary of some $500,000 a year.
The hearing continues on Monday, Nov 7.
http://smr.theedgemarkets.com/article/samuel-goh-friend-ex-bsi-banker-yeo-takes-stand-4th-day-trial