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Grab wants e-wallet service in Thailand, after Singapore launch a couple week ago.

Grab plans to provide GrabPay e-wallet in Thailand next year. The firm has gain revenue growth of 150 per cent year-on-year.
NationMultimedia.com - business

Grab wants e-wallet service in Thailand, after Singapore launch a couple week ago.

Grab plans to provide GrabPay e-wallet in Thailand next year. The firm has gain revenue growth of 150 per cent year-on-year.

McKinsey drawn into South Africa’s Gupta business scandal

McKinsey has been drawn into the scandal around South Africa’s powerful Gupta business family after revealing that a partner who allegedly misrepresented the consultancy in a deal with a Gupta-linked investment company would temporarily stand down.

Новости - mainAssistant.com

McKinsey drawn into South Africa’s Gupta business scandal

McKinsey has been drawn into the scandal around South Africa’s powerful Gupta business family after revealing that a partner who allegedly misrepresented the consultancy in a deal with a Gupta-linked investment company would temporarily stand down.

The firm said that Vikas Sagar, a director in its South African office, would take a leave of absence to allow an internal investigation to proceed after he “inaccurately characterised” Mckinsey’s ties with Trillian Capital, a company owned by Salim Essa, a close business associate of the Guptas.

The move demonstrates how international companies have become entangled in the fallout from allegations that the Guptas used their friendship with President Jacob Zuma to obtain lucrative state contracts and sway public appointments — referred to locally as state capture — to bolster their mining-to-media business empire.

The long-running Gupta scandal has cast a shadow over the Zuma presidency and fuelled tensions within the ruling African National Congress, which will choose Mr Zuma’s successor in December.

McKinsey acted after evidence emerged that Mr Sagar wrote to Eskom, South Africa’s state-owned power monopoly, last year stating that the firm had subcontracted certain services to Trillian.

The consultancy said that managers in its South African office had been “surprised to learn” of Mr Sagar’s letter to Eskom, which was revealed in an investigation into Trillian’s alleged involvement in state capture. The consultancy said it had “carried out work with Trillian at Eskom, but did not have a formal subcontract with them” and did not hire Trillian as a local supplier.

Both the Guptas and Mr Zuma have denied the accusations of corruption, which have been fuelled by recent email leaks that exposed an alleged complex web of influence from the Guptas to the heart of the ANC.

Last week Bell Pottinger, the British public relations adviser, apologised for work it had done for a company owned by the Guptas, saying its management had been misled over “inappropriate and offensive” social-media campaigning linked to the contract. Bell Pottinger was widely accused in South Africa of inciting racial tension to divert criticism of the family.

The Trillian investigation was launched last year by Tokyo Sexwale, the company’s outgoing chairperson and a senior member of the ANC. Mr Sexwale called for the probe following allegations that executives at Trillian were aware that Nhlanhla Nene would be sacked as finance minister weeks before it was announced in late 2015.

Mr Sexwale, a former supporter of Mr Zuma, wants the investigation’s report to be included in a judicial inquiry into state capture.

Geoff Budlender, the lawyer who led the Trillian investigation, said in the report last month that the apparent relationship between McKinsey and Trillian “served little purpose other than to provide a substantial financial benefit to Trillian and its shareholders — and presumably to induce Eskom to award the contract to McKinsey”.

The consultancy said it did not accept Mr Budlender’s conclusion and would not enter into supplier contracts “simply to provide financial benefit for a partner firm.” The group has brought in the law firm Norton Rose Fulbright to investigate Mr Budlender’s findings.

McKinsey managers decided not to partner with Trillian as a supplier last year following concerns over the firm’s ownership, people familiar with the matter said.


FT

Heinrich Jessen is Businessman of the Year

Mr Heinrich Jessen, chairman of Jebsen & Jessen (SEA), was named Businessman of the Year 2016 at the annual Singapore Business Awards (SBA).

The business activities of Jebsen & Jessen (SEA) span manufacturing, engineering and distributio

Новости - mainAssistant.com

Heinrich Jessen is Businessman of the Year

Mr Heinrich Jessen, chairman of Jebsen & Jessen (SEA), was named Businessman of the Year 2016 at the annual Singapore Business Awards (SBA).

The business activities of Jebsen & Jessen (SEA) span manufacturing, engineering and distribution in seven core business units: cable technology, ingredients, life sciences, material handling, offshore, packaging and technology.

Launched in 1985, the SBA has grown to be Singapore's most prestigious business accolade.

It is jointly organised by The Business Times, Singapore's leading business daily; and DHL Express, the global market leader in the international express logistics industry.

Among the other awards, Mr Goh Choon Phong, chief executive officer, Singapore Airlines Group, was named Chief Executive of the Year.

Mr Ong Ye Kung, Minister for Education (Higher Education and Skills) & Second Minister for Defence, was the guest of honour at the SBA 2017 presentation dinner held at The Ritz-Carlton Millenia, Singapore.

Mr Wong Wei Kong, chairman of the SBA organising committee and editor of The Business Times, said: "The Singapore Business Awards honour business leaders who have demonstrated continued commitment to excellence and leadership in innovation, talent development and sustainability."


TNP SG

Leaders scramble for votes on California gas tax

Democratic legislative leaders are hopeful but making no promises as they prepare to vote on a $5 billion-a-year boost in California's gas and vehicle taxes to pay for road repairs.

Senate leader Kevin de Leon says talks are fluid but "ver

Новости - mainAssistant.com

Leaders scramble for votes on California gas tax

Democratic legislative leaders are hopeful but making no promises as they prepare to vote on a $5 billion-a-year boost in California's gas and vehicle taxes to pay for road repairs.

Senate leader Kevin de Leon says talks are fluid but "very fruitful as of now."

He and other leaders including Gov. Jerry Brown are hurrying to line up the two-thirds votes needed to pass the tax increases. Democrats have the supermajorities, but are lobbying some reluctant members.

Republicans say the state already has enough money but Democrats who control state government have spent it poorly.

Votes are planned on the bill Thursday afternoon before lawmakers adjourn for their weeklong spring break.


STLToday

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