Growing Scandal – The London Connection!
Exclusive – The Taibs Own Ridgeford Properties Limited, London
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
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 largly 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.
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 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 sizeable 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.
