Former government minister Richard Frederick is questioning whether the current administration had given any proper consideration to the conditions set out in a contract with Desert Star Holdings (DSH) before signing. During his weekly television programme on MBC ‘Can I Help You’ aired on Thursday, Fredrick blasted the government stating that the signing may have been rushed as there are clear red flags within the agreement.
Referring to a specific clause in the contract that deals with confidentiality and announcements, Frederick said it states that “each party has agreed to keep secret,” and cannot disclose any information regarding the project, negotiations and information concerning the agreement to any third party. Frederick, an attorney by profession, believes that the prime minister should not have agreed to these conditions because it should have been made a public document and held to public scrutiny.
He also raised concerns about other parts of the alleged agreement, which states that if a certain amount of investors are not attracted to the project, the government will be responsible for purchasing back the investment.
Referring to a document that he claimed was the agreement, he read that“If within the first 24 hours of the launch, fewer than 200 investors have invested in the project and the government has implemented everything it could have done, the master developer may terminate the agreement and give the government notice and require the government to purchase all or any part of the land. The provisions of this agreement shall terminate immediately upon the government receiving the buyback notice.”
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