Is Energy World International (EWI) a real company ?

One blogger wrote something about a week ago on EWC vs EWI, which caused me go back and dig a little further into the background of EWI and the funny thing is I could not find anything, which in itself was troubling.

I could not find a single project that Energy World International(EWI) was involved in, but I was able to find many projects that Energy World Corporation(EWC) was executing. I have come across some agreements that were said to have been signed with EWI but I could not find a single project that EWI had executed.

Ok, someone would say what about this which is on their website.

Fiji Project

EWI, Through South Pacific Infrastructure (SPI), is developing a 2 x 25 MW Biomass / refuse / coal fired power station to serve the needs of Emperor Mines (EM) and also to supply power to the Fiji Electric Authority grid. At the present time, a PPA is being finalized between SPI and EM, and the conceptual design of the power station is nearing completion.

Well, I don’t want to say EWI is lying but this is what I found. There is no Emperor Mines, in fact the members of the Military Government in Fiji took stormed the mine in 2007 and the facility was closed and subsequently the stocks of EM was delisted from the Australia Stock Exchange ASX. The mines were then acquired by a new company.

This what is current.

Westech International took over and managed the Emperor Gold Mine through an Australian subsidiary. Having been closed by previous management Westech purchased the mine, restructured the operations and brought the underground mine back to production. The Vatukoula Gold Mine had 5 million ounces of gold in JORC resources with a further 1 million in reserve. During the 20 months Westech owned and operated the mine challenges such as native title negotiations, 55 C underground water and negotiations with the newly installed militant government were overcome and the project was listed on the United Kingdom AIM market at a value of $100 million.

http://westech.com.au/our-business/our-projects/

So the obvious question to EWI would be does EWI still maintain an interest in the mine and if so what is the status of that in terms of the power project, since there does not appear to be any agreement between Westech and EWI.

Let’s get back to what the blogger wrote and the result of my investigation. (Bibsy Clarke)

 EWI is simply a holding company for the shares that Elliot has in EWC

It appears that B Clarke is indeed correct in his assessment and EWI is simply a holding company for the shares Mr Elliott , the CEO and Chairman has in Energy World Corporation (EWC).

  • EWI has no projects being executed or has even executed any project.
  • EWI does not appear to have any physical assets .
  • EWI has no financial record.
  • EWI may be classified as financiers and that is just my opinion only.

http://www.hktdc.com/sourcing/hk_company_contact_information.htm?companyid=1X02MM60&locale=en

 

This now begs the questions.

 

  1. On what basis did the PNP Cabinet decided that EWI (not EWC) was worth looking at from the very onset?
  2. On what basis was EWI even  included in the bidding process ?
  3. What has the OUR seen about (EWI) not EWC that makes EWI the right entity for the project ?

This entire thing has been one mess as it now clear that the company the OUR was to be been engaging all along was Energy World Corporation (EWC) and not Energy World International (EWI).

Can the project be recused at this stage and how did the regulator allow itelf to be caught in this awkward position ?

Members of the JIE any comments ?

 

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