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Showing posts with the label Ben Micah

WHO IS PETER O'NEILL? FACTS YOU SHOULD KNOW ABOUT THE MAN

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byMICHAEL J. PASSINGAN
This article brings to light the dark side and unknown secrets of Peter O'Neill, the Member for Ialibu Pangia Electorate and the Prime Minister of PNG. These uncompromising and compelling truths revealed here might surprise you, but you will not regret that you have discovered the deep secrets of his background and character unknown to the majority of Papua New Guineans and the whole world.

During the political impasse since August 2 2011, I have supported the O'Neill/Namah regime against the Somare/Abel regime. The reason of my support was to change Somare’s unpopular regime that was deeply systematic and systemically corrupt. In the process, I admit that our constitution was tempered and violated. Even though our Supreme Court ruled in favour of Somare’s legitimacy, I went at great lengths to argue and support that O'Neill/Namah regime was legitimate. Consequently, the Somare/Abal regime was dethroned and destabilised. They usurped the power as an …

THE MOST POWERFUL WOMAN IN PNG -

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by POROLO PERIAP

Ru Lu aka Dora Lu graduated from university in Shanghai in English Literature. She went to work for a Chinese State cultural agency as a researcher in Taiwan Affairs. At the age of 23, she was seconded to a second Chinese State Agency to secure access to funding for the cultural agency. Unbeknownst to her, she was groomed to be the mistress of the head of her new employer. She lost her virginity to the head of the state agency, her former employer got access to all the funding it required.

In time, she married a man who was migrating to Australia as a way of escaping her circumstances. She bore a daughter, Catherine, who is now 8 years old. 
However she returned to China to beg the man to who she was once a mistress, to giver her work. This man is now a very powerful figure in the PRC Government. He directed all SOEs from the PRC with interests in Oceania, to use Dora Lu as their agent to facilitate and secure contracts in the region. 
Enter Nixon Duban …

JUNE 13TH 2016, MARK THAT DATE ON YOUR CALENDAR

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byGOVERNMENT INSIDER

The Swiss bank UBS struck a massively controversial deal to land the PNG government with a 10 per cent stake in ASX and PNG-listed company Oil Search. 

The shares as you all know costed PNG A$1.2 billion, a staggering 8 per cent of our GDP. UBS insiders describe this deal as one of the "most amazing deals" the bank has ever done due to the staggering 12.3% interest they are earning from us. 

This rate is well above an average commercial banks interest rate. Others, however, say the amazing part is that the bank was able to get away with it. This lucrative deal, the PM has coerced The National Petroleum Company Board to sign on an Irrevocable Escrow Agreement to keep our 19.4% LNG revenue in a Singapore Bank account as a collateral to the collar Loan, managed/Controlled by UBS According to the Clause 14. 

Of the UBS Collar Loan Agreement dated 12 March 2014, UBS AG Australia Branch will appoint a Receiver Manager to sell the Oil Search Shares and Manag…

BAD GOVERNMENT LOANS MADE PNGBC OBSOLETE, BSP ON THE VERGE OF REPEATING HISTORY

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by MICHAEL J PASSINGAN

Bank South Pacific is increasingly propping up the corrupt and financially compromised O’Neill Regime, exposing itself to higher and higher risk and putting itself outside its prudential guidelines.

Prime Minister Peter O’Neill, who as head of PNG Banking Corporation drove the bank into bankruptcy, forcing its merger with BSP, has been pressuring BSP to lend more and more money to his Government and his failing SOEs.

Since Mr O’Neill took Government midway through 2011, BSP’s lending to the Government and Public Authorities has exploded.

At the same time corruption, waste and mismanagement within Government – especially in SOEs under Minister Ben Micah – reached record levels. And it continues to increase.

In 2010 BSP;’s accounts showed it had a negligible K116 million in loans to Government and Public Authorities, or 3% of its portfolio.

As at 31 December 2014 (the latest full-year BSP accounts available) the bank had K1.12 billion in loans to Government and Pu…

Combining Corrupt Rulers, False Prophets, Ungodly Priests and Judges Bought with Bribes

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by YAKAN LEPAKAILI

Combining Corrupt Rulers, False Prophets, Ungodly Priests and Judges Bought with Bribes – Foolishness Prevails and People Perish:

We are world apart in terms of time line but similarities make PNG no unique on contrast. I make this comparison in the light of unprecedented level of corruption and proliferation of gross misuse and abuse unhindered by politicians and bureaucrats at massive scale contrasting with successive governments. Corrupt rulers (both politicians & bureaucrats), false prophets, ungodly priests and paying bribes to Judges were norm during the reign of King Jotham (739 - 731 B.C) in the ancient past can’t be ignored as historical facts for school of thought.

Corruption riddled infamous O’Neil regime is well and truly aided by members of the judiciary adding new dimension in the fight against corruption and in so doing, institutionalising corruption and weakening the agency’s (Fraud Squad) efforts to fight corruption whilst minority few (OC, FS, Jud…