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Wrong Mark Portelli?

Mark Portelli

Chairman

Malta Freeport

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I agree to the Terms of Service and Privacy Policy. I understand that I will receive a subscription to ZoomInfo Community Edition at no charge in exchange for downloading and installing the ZoomInfo Contact Contributor utility which, among other features, involves sharing my business contacts as well as headers and signature blocks from emails that I receive.

Malta Freeport

Malta

Background Information

Employment History

Director

Virtù Ferries Limited


Managing Director

Peninsula Investments Group


Consultants

Midi plc


Affiliations

Youth

Parliamentary Secretary


CMA-CGM Beppe Hili

Representative


Web References(20 Total References)


GM

gmint.com [cached]

The Ministry of Transport and Communications has appointed Mr. Mark Portelli as the new Chairman of the Malta Maritime Authority.
Mr. Portelli has also been re-appointed chairman of the Malta Freeport Corporation. Mr. Portelli is experienced in the local maritime industry. He served as a director and chairman of the Malta Freeport Terminals Ltd., as well as chairman of the Grand Harbour Regeneration Corporation plc from the date of inception of the company in 2007.


www.independent.com.mt

The list tabled by the minister reveals that Malta Freeport Corporation chairman Mark Portelli receives €16,305 per year plus a mobile phone, but then does not receive anything as chairman of Transport Malta.


www.maltatoday.com.mt

The government-appointed head of the maritime regulator, Mark Portelli, has opened himself up to a possible conflict in his role as chairman of Transport Malta, because he is a shareholder of the company awarded the 30-year concession for the Manoel Island yacht yard (MIYY) two weeks ago, and a business partner of entrepreneurs with interests in upcoming marina privatisations.
Portelli is director of Manoel Island Yacht Yard Ltd, a company formed on 1 December 2009, just two months before the Privatisation Unit accepted a €12.4 million offer for MIYY. The finance ministry ignored various questions by MaltaToday on Portelli's involvement in the winning consortium, claiming that yacht repair is not regulated by the Malta Maritime Authority (now falling under Transport Malta). "Any involvement of Portelli's in MIYY is completely irrelevant to the privatisation process since the MMA was at no point involved in the privatisation process," a spokesperson said. But Portelli's involvement in MIYY opens him up to questions on his impartiality as Transport Malta chief, and the interest of his co-shareholders. "It's even more unsettling to note that the Transport Malta website is directly linked to the home page of Midi plc in a section on the Marsamxett port: why is a private firm linked to a public authority's website, especially given the business relationship between Portelli and Albert Mizzi? Apart from Portelli's position as a public sector chairman, questions have been raised over the valuation of MIYY by auditors PricewaterhouseCoopers, who are also consultants to Midi plc on the Tigné Point and Manoel Island projects. In their enterprise valuation prior to privatisation, PricewaterhouseCoopers had predicted favourable market conditions for MIYY due to "the privatisation of the government owned marinas" which would generate more yachting activity. However it stated that due to the uncertainty of timing of the Midi land reclamation project - which will determine when privatisation of the Ta' Xbiex marina starts - "we have not adjusted our valuation to reflect the potential upside from these developments." This led PricewaterhouseCoopers to tag the sale of MIYY at a value of €10-€13 million - ostensibly the price that currently reflects the state of the Marsamxett port but not that upon the privatisation of the new marina. Portelli Until going to print, Mark Portelli could not be reached on either his home or mobile phone number, while an SMS message was never returned. Mark Portelli was appointed in 2002 as chairman of the Malta Freeport, and was recently appointed chairman of the Grand Harbour Regeneration Corporation, which is responsible for the development of new marinas among other projects; and now Transport Malta, the super-authority for civil aviation, land and maritime transport.


www.independent.com.mt

Mark Portelli is MMA, Freeport chairman Mark Portelli has been appointed chairman of the Malta Maritime Authority and was also confirmed as chairman of Malta Freeport Corporation.An Infrastructure, Transport and Communications Ministry statement said that Mr Portelli was given the two roles because of the natural synergies that existed between the two entities.Mark Portelli is MMA, Freeport chairman


MaltaToday

www.maltatoday.com.mt [cached]

The meeting was also attended by Ports Minister Censu Galea, Freeport Corporation Chairman Mark Portelli, the representative of CMA-CGM Beppe Hili and representatives of the shore foremen.


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