Singh battles to explain why some transactions were made which benefitted Essa
Testifying at the state capture commission on Thursday, former Transnet CFO Anoj Singh said that he could not explain why he signed an addendum that saw consultancy firm Trillian inherit Regiments' stake of a McKinsey contract.
JOHANNESBURG - Former Transnet CFO Anoj Singh has battled to explain why certain transactions were made which benefitted Gupta associate, Salim Essa.
Testifying at the state capture commission on Thursday, Singh said that he could not explain why he signed an addendum that saw consultancy firm Trillian inherit Regiments' stake of a McKinsey contract.
The board of Transnet approved the cession of major advisory contracts from Regiments Capital to Trillian Capital Partners, a company in which Salim Essa held a 60% stake. Trillian director Eric Wood and then-Transnet CFO, Anoj Singh, signed the cession addendum but Regiments was absent.
"Why was this addendum signed by you and Mr Eric Wood without any witnesses signing? Where were you when you signed this with Mr Wood?" commission chairperson Raymond Zondo asked.
Singh: "Mr chair, if I recall, I think I was in my office."
“But if you are in your office, you could easily have called your secretary, or some other personnel from Transnet, to come and witness the signing of this addendum. So where were the two of you when you signed it?” Zondo inquired.
“Chair, I don’t recall but I certainly think it was in the office,” Singh replied.
The commission heard that Transnet paid Trillian R93 million for work done by Regiments when Regiments had already been paid its R93 million for the same work.