bscnews304   Album Posted Sep.17th, 2024, viewed 42 times

Queensland Says CTFE Is Fit To Be Linked To Star Entertainment

The Queensland government has determined that Chautai Phuk Enterprises (CTFE) is fit to be linked to Star Entertainment Group's Queens Warp Brisbane property. The investigation into the matter followed Star Entertainment's violations and apparent relationship with the Asian junket operator.

For context, Star Entertainment was previously convicted of multiple AML violations and relationships with influential Chinese agents. These included Suncity Group and now incarcerated CEO Alvin Chow.

Past ties have raised concerns about CTFE, considering the Hong Kong-based conglomerate owns a 4.99% stake in Star Entertainment and a significant 25% of Queenswarp Brisbane properties.

In addition to its stake in Star Entertainment, CTFE also owns properties in the Bahamas and Vietnam. Its chairman, Henry Cheng, also holds a 10% stake in STDM.

In any case, the Queensland government was unable to find anything it deemed CTFE unsuitable to relate to Star Entertainment's Queensland properties.

CTFE Adequate, Attorney General Decided
Queensland's Attorney General Yvette D'ath said the investigation into CTFE's business was conducted over a 16-month period until February 2024. According to her, the investigation was conducted by OLGR with the help of a third-party company.

After D'Ath called CTFE's business and leadership "significant research work," the probe concluded the Hong Kong-based company should be a suitable partner for the star's property in Brisbane.

The Queensland government added that the investigation could not confirm allegations against CTFE. The company had previously dealt with "someone with a bad reputation," but the investigation could find no evidence to suggest that CTFE knew the person involved was someone with a bad reputation during the association.

The attorney general also learned that CTFE had "lack of honesty and composure" in several of its deals with OLGR. However, the attorney general decided that this was "based on differences in cultural and organizational expectations" and was not a deliberate cover-up.

The attorney general praised CTFE for its cooperation and its desire to work with the regulator in the future. However, the attorney general also warned that a potential future failure could force the Queensland government to re-evaluate CTFE's suitability with respect to Star Entertainment's Queens Wharf properties. 프라그마틱 슬롯 사이트