LEADER of the Opposition Matthew Wale has branded as shocking revelations that OUR Party President Jimson Tanangada and the son of Finance Minister Manasseh Sogavare had set up an offshore company in Singapore with a Chinese partner.

Wale has urged OUR Party leaders to come clean over the true purpose of a mysterious China-linked company set up in Singapore by party president Jimson Tanangada and the son of Finance Minister Manasseh Sogavare.

Wale has denounced the offshore company, named ‘Our International Development Fund Pte Ltd’,  as a “tragic example of leaders selling the sovereignty of Solomon Islands to foreigners for 30 pieces of silver” and called on party leaders to disclose  any funds that may have been raised through the company

The existence of the apparent shell company was revealed last week by In-depth Solomons. The firm, bearing a name strikingly similarly to the party’s own, had been set up in February ahead of this year’s elections. Singapore company registry documents show that  Tanangada and Brandt Sogavare own 40 percent each of the company’s shares, while an unknown Chinese partner, Pan Jinglin, owned 20 percent. 

In a statement released today (Monday), Wale urged both Tanangada and the elder Sogavare to explain why they had given conflicting accounts to In-depth Solomons about what the company was intended for. (Tanangada had told reporters that it had no connections with OUR Party; Sogavare, however, had said Tanangada had told him it was a vehicle for raising funds for OUR Party initiatives.)

“In the investigative article, Hon. Sogavare confirmed that Hon. Jimson Tanangada had discussed with him the idea of setting up the Singapore Company to raise funds for OUR party,” Wale said in the statement.

“We have reason to doubt the truthfulness of Hon. Sogavare’s statement that he did not know anything about the Singapore Company beyond the discussions with Hon. Tanangada” Wale said. 

_{Minister of police, Jimson F. Tanagada. Credits: GCU}

“It is most unlikely that [Tanangada] would have used Hon. Sogavare’s son without the father’s permission,” Wale said.

Wale  called on Tanangada to publish the statements for any bank account held by the Singapore company in order to disclose funds going in and out. He also urged Tanangada to state who may have paid into the account and the relevant amounts. 

“I am calling on Tanangada to state who were the beneficiaries of the Singapore account. If Hon. Tanangada refuses to publish these then it is clear he wants to hide the dubious activity conducted through this OUR party Singapore company and account,” Wale said.

Although In-depth Solomons reporters were able to confirm the existence of the Singapore company, they were unable to establish if it had been used to open a bank account or if any money had flowed through the entity. In his response to reporters last week, Tanangada denied the company had done any business. 

“The fact that OUR Party was willing to do this reflects their desperation to hold on to power, whatever the cost. The people of Solomon Islands must be very concerned by this behaviour, and demand accountability from OUR party, Hon. Tanangada & Hon. Sogavare,” Wale said.

The Opposition Leader urged the Political Parties Commission, the Independent Commission Against Corruption, the Financial Intelligence Unit, and RSIPF to collaborate and investigate the Singapore company.