State capture inquiry told of Gupta-linked company's controversial proposals to Transnet

According to Makgatho, she received a proposal from Regiments on January 9, 2013, wherein the company offered their transaction advisory services for the 1,064 locomotive deal. The services included, among others, developing an optimal funding structure for the deal, financial risk management, an economic evaluation, and a collateral assessment.

"The interest rate that this proposal was quoting was much higher, the additional interest payment per annum was R150m. I told [Singh] I could not recommend the structure. [Singh] wanted a recommendation drawn up on the same day," she said. This time, Regiments apparently proposed that Transnet deviate from the normal practice of using commercial banks when conducting cross-currency swaps. It proposed that Transnet use the South African Reserve Bank as a counterparty.

"I told him it was a ticking time bomb and he just brushed me aside and he said that he would manage him ."The fourth proposal occurred between April and May 2013.

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How Gupta company allegedly got R7.5m fraudulently from TransnetCommission fees were paid for no fathomable reason, witness claims. StateCaptureUpd Another lie. Ahoembawe Nearly ALL statecaptureinquiry stories bar:Bosasa, GreasedTheGuptas with R100sMillions😩high end gangster schemes! People involved must be laughing, & long gone or 'still' employed in government. WipeTheirSmiles SAns need SOME HERO'S NDPP ShamilaBatohi
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Gupta linked company unduly benefited from transactions with Transnet - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Zondo Commission of Inquiry has heard of how Gupta-linked consulting firm Regiment Capital unduly benefited from multiple transactions with Transnet.
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