Newly appointed competitiveness Minister Emmanuel Mallia has declared a total of €1,073,199 in local and foreign bonds as well as €185,167 in BOV 'money markets' – which refers to various accounts in a number of different currencies.
Dr Mallia declared no cash, with the €500,000 he had declared in cash for the 2013 declaration of assets being safely tucked away into local and foreign holdings, as well as deposited into his bank accounts.
He was removed from Cabinet last year when his driver had fired shots at another driver for hitting the minister's car. Dr Mallia was not in the vehicle when the incident took place. He has since been reappointed in the latest government reshuffle.
He also declared €73,093 in "hybrid securities," €84,611 in "exchange traded products," €222,870 in "funds" and an overseas Banif account with €73,000.
In the 'other financial interests' section, Dr Mallia declared €402,300 in a BOV security account, a further €80,000 in a term deposit account and lastly €15,364 in a BOV savings account.
He holds 57.6% shares in a services company entitled 'Venture Services Limited' as well as 25% shares in 'Projects Consultancy Services Ltd' which is currently in liquidation.
Labour MP Charles Mangion, who is also a notary, failed to declare any money deposited into a commercial bank account, but declared a number of holdings in government stock, BOV subordinated shares and GO plc ordinary shares.
He declared his position as a non-executive director of Betfair plc and his chairpersonship of a financial services working group with the Ministry of Finance.
All 69 MPs have handed in their declaration of assets as of 29 April – one day early. This year, the 30 April landed on a Saturday – meaning that the Clerk of the House would have had to open the offices if any MPs chose to leave it to the last day.
The last MPs to have handed in their declaration of assets were Economy Minister Chris Cardona, Family Minister Michael Farrugia, newly appointed Competitiveness Minister Emmanuel Mallia, Labour MP Charles Mangion, Minister Konrad Mizzi, Shadow Minister for Transport Marthese Portelli and Parliamentary Secretary for Planning Deborah Schembri.
It must be noted however that in the case of Cabinet members, they had to hand in a second declaration of assets to Prime Minister Joseph Muscat by the end of March. He tabled them in Parliament last Wednesday.
It is up to his discretion when to publish the Ministerial and Parliamentary Secretarial declaration of assets – which has already been done, months earlier than the previous two years.
In the light of the Panama scandal, where former Energy and Health Minister Konrad Mizzi and the Prime Minister's chief of staff Keith Schembri were found to hold a trust and a company in New Zealand and the financially secretive jurisdiction of Panama respectively, Dr Muscat has been under increased pressure to publish the declarations sooner rather than later.
Two years ago, no less than 16 MPs failed handed in their declaration of assets by the stipulated deadline, last year this number went down to 5 – three MPs and two ministers. This year, all have handed in their declaration one day ahead of schedule – which is most likely attributed to the heightened political tension currently being felt in Malta, with many observing that the mainstream parties already seem to be in election-mode.
from The Malta Independent http://ift.tt/1VYQdsw
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