Taib’s Wealth in London: Ridgeford Properties Limited
Taken from: Sarawak Report
Dayakbaru:
Taib is going to London towards the end of this month. He may be visiting his properties and businesses. The most unfortunate thing for us Sarawakian is, we have so many hard core poor, bad or no roads, no clean water or electricity, our natural resources is almost gone and we still support Taib through BN.
Taib never deny his wealth and properties. If he dares, he can sue us who published the news from sarawak Report.
Why are we ALL so stupid? We allow him to play us around?
Tokenhouse Yard - Prestige Heritage Building (Next to the Bank of England)
Racehorses, residences in swanky Fitzrovia and offices bang next door to the Bank of England. Yes, the Taibs are in London too. In this latest exclusive investigation, Sarawak Report can reveal the full details of Ridgeford Properties Limited, a multi-million pound property company in the UK, once again owned and funded by the family of Chief Minister, Abdul Taib Mahmud.
The London base of the Taib family’s international property portfolio was started in October 1996 under a Canadian, Chistopher Murray. Christopher Murray is the cousin of Sean Murray who is married to Jamilah Taib, the Chief Minister’s daughter and a key lynch-pin for his foreign property empire. Sean Murray acts as Chairman of Ridgeford, while Christopher has been appointed the London-based
Flagship Development off Oxford Street
Managing Director. Sean Murray is also President of Sakto Corporation in Canada and Sakti International in the USA, as well as a Director of Sitehost Pty in Australia. These are all major property companies of which his wife and her family (the Taibs) are the owners and shareholders
Again, whilst an impression has been given that Ridgeford Properties is part of a wider business started and owned by the Murray family, Sarawak report has established that it in fact relies on millions of pounds worth of soft loans from a private investor based in the British Virgin Islands. This investor has clear links to the Taib family fortune and to the public Sarawak-based company, which they largely own, CMS (Cahya Mata Sarawak). Many questions have been raised as to the legitimacy of the Taib family’s ownership of CMS, which was once Sarawak’s largest state company, but was then ‘privatised’ by the Chief Minister into the hands of his own close family.
Central London Portfolio
Scores of Stylish Flats for Sale
Ridgeford Properties Limited currently boasts seven major Central London ‘mixed-use’ developments, including luxury flats and thousands of square feet of rented-out office space. According to the company’s own online information, just one such property, Tokenhouse Yard adjacent to the Bank of England, is netting the company £1.5 million in rent per annum, whilst of course remaining a valuable and appreciating asset.
All In The Family - Managing Director Chris Murray
Another stunning showcase for Ridgeford is 50 Bolsover Street, in Fitzrovia near Oxford Street. This massive development is in partnership with the prestigious Royal National Othorpaedic Hospital and All Souls College, Oxford along with a fellow developer, the Manhattan Loft Company. According to our research, the first part of this two-stage development has consisted of 210,000 square ft of prime property sold as 66 flats and 4 penthouses for between £1,000 and £1,200 per square foot – giving a total value of well over £210,000,000 (just over one billion ringgit at current exchange rates). The second phase of the project, which is due to complete in 2012 will consist of another 60 flats for sale, making it almost as lucrative as stage one.
Modern Office Block Gets Top Rents For Taib
Meanwhile, in trendy Clerkenwell another Ridgeford development, Ironmonger Row, has seen 12 ‘prestige appartments’ and 2 penthouses sell for what the company describes as ‘well in excess of previous developments in the area’. The company retains the lower part of the building for rent as retail and office space and boasts that this is occupied by top shoe designer Christian Louboutin. Another property, a bright red, modern office high-rise, ’Maple Street’, has secured a 15 year rent as the Headquarters for the famous travel company Thomas Cook at record prices, according to Ridgeford’s publicity material.
Developer with a difference is bullish over recession
Interestingly, while most London developers are now cash-strapped because of the credit crunch, Ridgeford Managing Director, Christopher Murray, says the company sees this period of recession as a good opportunity for more business. As he explained to one reporter, ”we see this period as an opportunity to buy right, as there is less competition. Where there were once 30 companies chasing one
Ultra Modern Award-winning Architecture!
development now there will just be two”. His statement clearly implies that Ridgford is less vulnerable than most to the current loan squeeze and this ties in with evidence from the company’s public financial records, which show that Ridgeford has access to sizable loans on highly favourable terms from a mysterious donor named Tess Investments, based in the British Virgin Islands. Sarawak Report has found clear links between Tess Investments and the Taibs.
Links to Sakto Corporation Canada and the Taib Family
Ridgeford’s company websiteacknowledges that Ridgeford is a ’sister company’ of Sakto Corporation, based in Ottawa Canada and run by Sean (Hisham) Murray, the husband of Jamilah Taib. Numerous members of Murray’s family have become employed by Sakto since Sean’s marriage to Jamilah in 1987, including Brian Murray who is in charge of office letting in Ottawa, Thady Murray who acts as President of City Gate Corporation, another sister company, and Christopher Murray in London.
Christopher Murray claimed in a recent interview that Sakto is a “family business” started by “my cousin’s father and my father. They had an architectural practice and then got into development”. However, Sakto was in fact started in 1983 in Ottawa by Onn Mahmud, Mahmud Taib and Jamilah Taib, the Chief Minister’s brother, son and daughter, well before Jamilah met and married Sean Murray. Likewise millions of dollars had been invested in developments before Sean Murray became involved in the company.
Trendy Mixed Use - Clerkenwell
Sarawak Report therefore contends that Sakto and its sister companies are in fact a Taib family business, which employs several members of Sean Murray’s family in different departments of its property empire. According to Ridgeford’s financial records Christopher Murray was paid a salary of £178,175 in 2009, a considerable rise from £47,917 in 1998, which apparently enables him to live in a £5 million apartment, as he claimed in the same recent interview. Ridgeford accounts also indicate the company has funded a racehorse in past years, indicating certain added value to be gained from working for the in-laws.
The financial connection
Ridgeford Properties, according to its 2009 Financial Statement ‘relies significantly’ on loans. This includes over £15.5 million of mostly interest-free and open ended loans, from Tess Investments, c/o Equity Trust (BVI) Ltd, PO Box 438, British Virgin Islands. It is notable that Tess Investments was incorporated on 23rd October 1996, the day before Ridgeford was incorporated in London on October 24th 1996. The majority of these loans are not secured on any properties owned by Ridgeford, representing stunningly generous terms from anyone who was not a direct shareholder of the company.
50 Bolsover Street - 60 More Fancy Flats Due For the Market by 2012
The original shareholder of Ridgeford was in fact a company called Astar Properties, incorporated on October 4th 1996, also in the British Virgin Islands (a well-known tax haven) and also sharing the same Equity Trust Agent and PO Box 438 address. Astar Properties also has shares in Sitehost Pty, the Australian property company belonging to the Taibs.
It is notable that CMS (Cahya Mata Sarawak) the once state-owned company that was ‘privatised’ into the Taib’s family’s personal control by the end of 1996 also has a banking division in the British Virgin Islands. CMS in the BVI is also registered at the very same PO Box 438 address and with the same agent, as Astar Properties and Tess Investments, according to information made public by Equity Trust and available on the internet.
In 2001 documents show that Astar’s shareholding in Ridgeford was then passed directly to City Gate International Corporation, which is based at Sakto’s Headquarters in Ottawa. Jamilah Taib and Sean Murray are the registered directors of City Gate and Thady Murray is employed as President.
Sarawak Report therefore challenges the Chief Minister Abdul Taib Mahmud to acknowledge that Ridgeford Properties in London was set up and financed by the Taib family and remains part of the Taib global property empire, which is largely owned and ultimately controlled by himself. We further ask how with him earning a salary of just 20,000 ringgit a month his family has been able to afford to pay millions of pounds into this property company and others across the globe. So far the Chief Minister has found no answer to our revelations, so will it be different this time?
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23 Responses to “Taib’s Wealth in London: Ridgeford Properties Limited”
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Inspirational word from gkm2020
This is another piece of information to help MACC in their investigation over Taib.
This guy, my dear friends, is the real culprit for poverty in Sarawak. When Sarawak people are 8-80% poor, he wallows in wealth, and then he blames people for not supporting him.
Instead of focusing on Johnical Rayong, Gabriel Adit, etc who are victims just like us, we must focus on the real scheme master – this man. As long as he is still here, Sarawak has no answer for addressing poverty and lack of development in Sarawak.
Projects diverted, timber resources depleted, rivers polluted, while the people suffer – all because of this man.
Campaign ‘Voter gets voters’ now. Use Youtube and facebook cos youngster nowadays used it frequently. Spread this info to all. Bring the culprit to jail and bring back state money to Sarawak.
To add a few:
1. federal fund to build rural roads link to longhouses diverted to ????
2. Federal fund to repair the decapitated school in the rural areas diverted to???
3. Funds to assist poor students diverted to???
4. Funds to provide cleaned pipe water, electricity, infrasturctures diverted to ??
Lihatlah buktinya betapa senangnya cari duit bila kita dah pegang kuasa hingga harta pun bertaburan di tepi jalan di Landon, NY, Paris etc.
Rebutlah peluang nak jadi pemimpin selagi ada peluang dalam SE nanti.
Janganlah lepaskan peluang sebab kita hidup memang terlalu singkat di dunia ini jika dibandingkan dengan usia bumi.
People always eat more than they could chew.
Absolute power corrupts, but as a registered voter we didn’t exercise our rights as it should. The failure of our village folks to understand the democratic process is still lacking eventhough we have achieved our Independence many, many years ago.
Money politics is still rampant but we can’t do much because the execution of power rest with MACC which don’t have much say or power in it.
There is still strings attached that is holding them like marionettes.
But I always believe the day will come like in Indonesia & The Philippines to mention a few who have set themselves free from the clutches of the “greedy ones.”
IbanLama, IbanJohor b. Abdullah.
Uji bakih anang jauh ngasoh bala YDK kita ngaga Bangelooo…, uji gaga ke beratus tingkat ba daro, ba matu, ba tanju manis, ba Ulu Mujong, ba betong. Ngambi kami ke merinsa tu ulih nemuai kia enggau bala bini anak bergambar beramai ramai ba bangeloo nya pama meh nah, isa enda ulih meli bangeloo. Pama meh bisi gambar bai pulai gantong ba dinding ruai Tuai Rumah akih IbanBeli.
Nama guna ngaga ba menoa Lundun din, ba menoa kangaruuu..uji rumah apong gaga menoa Lundun engka bisi agi asil laban temuai orang ribai maioh ngelawa datai ka meda, enti rumah bangeloo.. enggi sida iya nyau abis kena sipak maya ke bejalai IbanBeli…
Mupok akih siga baka meh. Idup Iban Idup Dayak. OOhhaa….
Ibanlama, Iban Johor and Dayaklama,
What is your comment on this article? Silence mean acceptance.
Ibrahim Ali,
You PIG and SMC!!!
aKIH iBAN pANTU,
Lembau deka bejaku ke tu aku akih. Tang ukai reti nya aku setuju, tang enda ga mantah.
Pansik memanah meh bakani iya bulih pengeraja ke baka nya. Kati utai ke ulih iya nya setipak enggau gaji iya ga?
Po Aki Manang,
That’s real bad words, Po Aki. Sabar Po. Kenapa Po perlu berkata begitu? Sopanlah sikit Po. Jangan tak reti hormat orang walaupun sedikit pun kita tak bersefahaman pikiran. Tuhan itu tahu isi hati kita walaupun kita tak nampaknya.
Denga seikhlas hati saya berdoa Tuhan memberkati kamu dengan kelimpahan, Po, supaya sentiasa senang hati dengan jiran tertangga.
Puji Tuhan.
Ibrahim Ali..GO f**k urself k..
IA,
Sometimes we have to punch those who with no shame direct to their face. But, I can’t do it. So, I just it into words. You freak, with bunch of lies to the peoples. If you is REAL Ibrahim Ali, please don’t use Puji Tuhan. Please your own words. That one belong to us. If you want to become the leader and get a grab of power then go ahead. You get the easy money here because you is BN barking DOG.
That is my mistake and I want to do that again. YOu PIG.
Nyak meh, lapa enda jadi ngau urang putih? Bisi ga bisness….
Po Anak Dayak,
Nasib baik kamu bukan anak Iban. Kalau awak guna nama samaran iban, sudah tentu buruklah orang iban kerana moralmu. That’s real bad words, Po Anak Dayak. Sabar Po. Kenapa Po perlu berkata begitu? Sopanlah sikit Po. Jangan tak reti hormat orang walaupun sedikit pun kita tak bersefahaman pikiran. Tuhan itu tahu isi hati kita walaupun kita tak nampaknya.
Dengan seikhlas hati saya berdoa Tuhan memberkati kamu dengan kelimpahan, Po, supaya sentiasa senang hati dengan jiran tertangga.
Puji Tuhan.
Po Aki Manang,
Apa salahnya saya puji Tuhan. Allah pun Tuhan juga. Betul betullah kamu itu anggap Tuhanmu tak dengar, tak baca apa yang tertulis dari isi hatimu.
Being emotional is evil control, Po.
Sida tu_Dayaklama,ibanlama,iban johor,ibrahim ali tau nyadi ka chunto ka bansa kitai iban ka nadai persatuan,enda berserakup bepayung atas nama Dayak.Pandai amat pandai sida tu tang pemandai di kena nyadi ulun bansa Laut.Anang nganu sida fosil idup,awak ka sida.nemu sida ia ila ka nadai tuju ati ka bansa diri empu.
au meh anang diau aja aram sama sama mansang ambi pulai reta kitai ke diambi taib nya ukai naka enda ngundi BN
baka orang piliphine enggau niang marcos suba baru satipak enggau penyalah ia.
tq.
Munyi kok aki Gerinang_ibrahim ali tu baka “Besai Tai Laut”sigi pandai bejako.Sida Dayaklama,Ibanlama,Iban Johor nyau betapat ka ngemelik alu ngelesey ka penemu/jako bansa diri empu_iban murtat.Anang nganu,anang belaya enggau sida tu.Awak ka aja
Dek akih Jalaialun,
Kati manah jalai kini? Enti mayuh lubang ba jalai, tau ngasoh sida PPES nganjung lipan undang dikena ngerata ke iya sampai ke kereta Pelandok enda agi jejengkak nengah iya.
Po Berahim…,Enti kami enda ulih ngena “ALLAH”enda ngawa la,minjau “Murtat” ngambi bisi ka ensumbar sida Ibanlama.Ibanlama ka bejuluk iban murtat,kulu-kili dilah nilat,pala belabung ka sirat,bejako sengapa pidat,bejalai ngerayap baka menarat,bejelangkit kitang-kitang nyadi bunsu ingkat.
Ibanlama,
Enti kitai nyukong pengawa ti jai retinya kitai deka sama nanggung dosa baka iya. Diatu ia enda ulih tindok jenak laban antu rua, antu rangka deka ngambi semengat ia laban ke udah maioh kena sumpah rayat awak ka pecah perut laban kenyang makai duit haram.
Diatu ia agi betapa minta tulung antu jin ngering ke kuasa ia leboh maya deka bepilih tu ila. Kitai patut bepanggai ba ALLAH meh, sapa ti salah enggau sapa ti betul!! The end is near and the supreme force of the almighty will befall upon those tyrants.
Ba kita DB, utai ke jai nya dikumbai sida BN nya manah tang ba sida BN utai ke jai nya dikumbai kita manah.
But, one must bear in mind, always do good according to the standard set by god, be it the chrisrtian or muslim or Simpulang Gana or Buddha or Hindu or shinto god, etc etc.
To some people of different faiths, the standard set by christian God is still not good enough and vice versa. The CHRISTIANS ALSO SEE THE STANDARD SET BY OTHER gods as NOT PERFECT YET TOO.
Greed and lust for wealth and power makes a man loses his moral integrity and distanced himself from the real faith and professed his alliance to evil. Humans are tempted by material gains for so long and we cant afford to be robbed of of our dignity from this “Old Macdonald of Sarawak”. We feel guilty too for allowing him to be in the pandemonium for so long.