ITS advisers also provide services to Seabank Group

The audit firm engaged by the government to advise it on the value of the ITS land in St George's Bay has been providing services to various companies associated with the (db) Seabank Group and its owner, Silvio Debono, for a number of years, Times of Malta is informed.

Publicly available information lists Deloitte as the provider of auditing services to at least six companies associated with Mr Debono's business group. MFSA records list Deloitte as the auditing firm of Hotel San Antonio Ltd, Porto Azzurro Ltd, Porto Azzurro Resorts Club Ltd, Vista Promotions Ltd, SA Marketing Ltd and DB Catering and Events Ltd.

Malta Financial Services Authority records list Deloitte as the auditing firm of Hotel San Antonio Ltd, Porto Azzurro Ltd, Porto Azzurro Resorts Club Ltd, Vista Promotions Ltd, SA Marketing Ltd and DB Catering and Events Ltd.

Some of these companies are directly owned by SD Holdings – the mother company owned by Mr Debono, which now also owns the ITS site – while the others include Mr Debono and members of his family as shareholders.

Deloitte was directly selected by the government, after the bid was closed, to come up with a valuation for the land in St George's Bay,...