Brief: Dual track strategy for PEXA sale, Westpac 'nonchalant' over tax-havens
The AFR's Street Talk column reports that Link and Macquarie, two of the largest shareholders on the register of the digital property exchange platform, Property Exchange Australia (PEXA), might join forces and postpone or cancel a planned IPO. AFR assessed Link Group having both "a track record of turning large and complex IT projects into efficient businesses and a proven ability to integrate both large and small acquisitions," a factor not lost on PEXA's advisers as they continue on a dual track strategy. Westpac opened an account for a company linked to a Kazakh multimillionaire politician in the tax haven of Cook Islands without doing any identity checks, according to the Paradise Papers - the documents leaked after the files of offshore law firm Appleby were obtained by the German newspaper Süddeutsche Zeitung and shared. The files suggest a nonchalant attitude in Westpac to basic procedures for international money transfers on "knowing your client", which was similar to CBA's abuse of ATM facilities in Australia two years later, the AFR reports. Normal 0 false false false EN-AU X-NONE X-NONE