33-APR-1983 16:24
BRITISH EMBASS
FURIS
16 1 42 66 91 42
P.09
LILLY.
As an example, one will note that Mr Rais Bin Saniman went some twenty-five times to Hong Kong over five years, that it, an average of five times per year, which is not compatible with me tavs hoon implemented for the benefit of a grung participation to a financial fraud which could hev
of companies, the Carrian Group of Companies, controlled by a Me Gonna Tan
ine
The Carrian Group of Companies of Mr Tan would have obtained from BMFL Important loans in irregular conditions; these were loans granted for very high amounts, without any security.
which the recipients were notoriously unable to repay.
MSPAMMA MSEVRBA Uvjerman AR
Such loans and advancea we.C
which deposited
e påïtly
Studded shamesh damacita OFARMER and ite branchen shroad,
od funds fan anal with RMET. In order to supply the latter with the cash necessary
to fund its portfolio of loan.
This source of funding, which, until 1987, was only a proportion of the finance used by BMFL, had become since 1982-198) absolutely essential, by reason of the decrease of the local sources of funds in Hong Kong due to Chinese pressure añú throais on the status of Hong Kong (which finally resulted in the Sino-British Settlement of 1985). These threats prompted the owners of
very nautique at d to place them abroad rather than in Hong Kong,
Linda
SMERNEGO W
A
Funded iú á stovk Daviungo vingi, in*
exelangs eraob, ika Carrian Group found itself insolvent and unable to repay
even interest on the loans which had been granted by BMFL. This prompted an audit report and the inquiry of the committe? established as described above: BMFL was itself in the situation where it was unable to repay the funds deposited with it or the loans made to it and which had
been used to fund the loans made to the group of Mr Tan.