Date: 31st August 2010 at 1:40pm
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Potential Rovers owner Ashan Ali Syed has spoken this morning about last night’s allegations that his Bahrain foreign investment company has been forced to close.

He seems to have set the record straight by saying he is merely complying with Bahrain Authorities and that there is no outside investor other than the man himself.

In a statement this morning, Mr Syed told the Lancashire Telegraph – “There is no hidden investor or any outside wealth involved in any way in the investment activities of Western Gulf Advisory (‘WGA`).

‘All our investments are based on our own financial resources and strength, and I am the sole shareholder of the company.

“The Bahraini authorities have asked for clarification on WGA`s investment activities and we are co-operating fully with their enquiries.

‘Our Bahrain business is a separate entity to our European businesses such as Western Gulf Advisory AG, based in Switzerland, which have been responsible for executing most of WGA`s current investments, such as J&M McCabe in Ireland and Landmark in Australia.

‘WGA`s investments are always made by one of its European entities and this will also be the case for the potential takeover of Blackburn Rovers.

‘Our Bahrain business is a separate entity which is not involved in investment activities of WGA at all and has in fact very limited scope of activities.”

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3 Replies to “Ali Syed statement”

  • As I said earlier today (and I think I recall you saying something similar) it’s probably just all been blown out of proportion. We have no understanding of the Bahranian law, and it’s probably something laughable that they require WGA to do. I have no worries about his finances, or his business acumen.

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