THE PLOT THICKENS – TABUNG HAJI COMES UNDER THE SPOTLIGHT: ARRESTED SAUDI PRINCE’S COMPANY CONTRADICTS TABUNG HAJI’S DENIAL OF MONEY LAUNDERING ACTIVITIES

In response to this story:

Al-Waleed’s money laundered via Tabung Haji into property projects in Sydney, Australia; Tabung Haji and its wholly-owned TH Property have said:
“…accusations of its involvement with money laundering were “tainted”, baseless and false.
“All investments are made directly by THP from internal funds; under no circumstances that THP has in the past or at any material point of time, sought or secured funds from Crestmount Capital or other external investors.

Cresmount on the other hand has stated :

Crestmount Fund I, with plans to immediately deploy the raised amount into five separate Australian Sharia-compliant projects at a local market value of $100 million (AUD), privately circulated the opening investment opportunity under the guidance of Amanie Advisors. The projects targeted for the capital, at varying stages of progress, are residential developments conceptualized and developed by the largest Sharia compliant developer in Australia, PietyTHP Developments.

PietyTHP is a JV between Piety and THP. As they say:

PietyTHP brings together two great companies with enormous experience in the art of building – Sydney-based Piety and Malaysia’s THP.

From the PietyTHP website:
 

OUR PEOPLE

Mr. Bilal El-Cheikh
Managing DirectorBilal is the founder of PietyTHP and has over 20 years experience and expertise in the construction and development industry in Sydney, delivering in excess of $250 million in projects. He has developed, and is continuing to develop, over $1B in property. Bilal has managed multiple development projects from inception to completion and has in-depth experience dealing with consultants, regulatory bodies, construction workers and marketing campaigns.He was Vice Chairman of Vinaconex Advanced Compound Stone, an entity listed on the Hanoi Stock Exchange, employing over 1000 people and exporting engineered stone to over 40 countries around the world.

Mr. Danny Masri
Director

Danny has extensive experience in development and structured finance. Danny has previously served Westpac Banking Corporation and Colonial Financial Services prior to founding One Corp group an award winning, boutique multi-disciplinary financial services firm.

Danny has advised developers and acted on behalf of investors on over AUD $2.0 billion of property development project across New South Wales and Queensland.

Danny has also undertaken a number of boutique development projects in Sydney.

Danny holds a Bachelor of Commerce majoring in Economics, Accounting & Business Law from Macquarie University and a Graduate Diploma in Financial Services from FINSIA.

Dato’ Roszali Bin Othman
Director

Dato’ Roszali Othman, 57, was appointed the Group Managing Director and Chief Executive Officer of TH Properties on July 1, 2011 owing to his years of experience in the industry.

Dato’ Roszali holds a B.Sc. (Hons) in Land Surveying Sciences from the University of East London. He attended the Advanced Management Programme at INSEAD, Fontainebleau, France in 2004, and also the Oxford Advanced Management Programme at Said Business School, University of Oxford, United Kingdom, in 2008.

He has held directorships in various companies since 2001 including Chief Operating Officer of Negara Properties (M) Sdn Bhd, Director of Property of Golden Hope Plantation Berhad / Golden Hope Development Sdn Bhd and Director of Property of Island & Peninsular Berhad.

Dato’ Roszali is currently the Chairman of THP Bina Sdn Bhd, THP Hartanah Sdn Bhd, THP-SBB JV Sdn Bhd, and TH Universal Builders Sdn Bhd, as well as a Board Member of TH Properties Sdn Bhd, THP Enstek Development Sdn Bhd, THP Sinar Sdn Bhd, THP Development Consultancy Sdn Bhd, THT-HCM JV Sdn Bhd, Ultimate Building Machine Sdn Bhd, Roadcare (M) Sdn Bhd and HCM-TH Technologies Sdn Bhd.

He is also a Fellow of the Institution of Surveyors, Malaysia (FISM).

Tuan Haji Mohamed Rahim Bin Ismail
Director

Tuan Haji Mohamed Rahim Bin Ismail graduated as a quantity surveyor in 1975. He has served in various capacities in Public and Private sector organization.

He commenced his career in 1975 with JKR Headquarters and later posted to Lembaga Lebuh Raya Malaysia as Senior Quantitity Surveyor . In 1981 Tuan Haji Mohamed Rahim Started his career in private sector when he joined Shah Alam Properties as project Manager.

From then on Haji Mohamed Rahim has assumed various positions amongst them are Managing Director of M K Associates , Managing Director of Punca Alam Sdn Bhd a PKNS related company developing Damansara Impian.

Tuan Haji Mohamed Rahim has also served GLC companies in various positions viz. Director of Properties Kumpulan Guthrie Bhd , General Manager and Consultant to Property Division of Permodalan Nasional Berhad, Director of Warisan Merdeka Sdn Bhd and CEO of Permodalan Hartanah Nasional Berhad which he served until 2006.

Tuan Haji Mohamed Rahim is a board member of TH Properties and THP Bina Sdn Bhd.

Peter Munnings
General Manager

Peter has more than 43 years experience within the development and construction industry that includes substantial experience in commercial, residential, industrial, entertainment and retail development. Peter has managed both development and construction of in excess of 100 projects across all sectors including large residential estates, mixed-use developments, office towers, major health facilities and refurbishments.

Peter’s position as General Manager includes managing the approval and design process across all facets of the project with a strong focus on build ability and associated affects on program and quality.

Peter has held positions in the construction industry ranging from Foreman to Project Manager and General Manager spanning development, construction, design and operation capacities. Peter is well respected in the industry for his hands-on approach with clients, consultants, subcontractors and staff.

Peter is highly skilled and experienced in achieving positive resolution outcomes to ensure projects are delivered on schedule. He has a proven track record for the management and successful delivery of larger scale projects. Some more notable projects managed by Peter are Victoria Park mixed use development, The Waterfront, Homebush Bay residential development, Darling Harbour mixed use / heritage project and Sutherland Hospital.

– http://realpolitikasia.blogspot.my

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