New Energy Supply Ltd. is a company directed and owned solely by murder suspect of the Daphne Caruana Galizia assassination, Yorgen Fenech. It owns the least shares, 8.17% of GEM Holdings Ltd, which owns 33% of EGM Holdings Ltd, which in turn owns Electrogas. Why Fenech set up a seperate company to obtain more shares in Electrogas is unknown and raises questions.
Scandal-embroiled auditing firm Nexia BT are the auditors of this company. The firm still owns an operating licence and is currently subject to several ongoing inquiries, including the Panama Papers scandal. Nexia BT had acted as Malta’s Mossack Fonseca agents. Mossack Fonseca was the Panama firm at the core of the 2016 Panama Papers scandal.
