KUALA LUMPUR, Nov 30 — Protasco Berhad today responded to a Bernama story about Indonesian firm PT Asu’s police report as an attempt to pressure it to drop attempts to revive a criminal case against its former director Datuk Larry Tey Por Yee and his associate Datuk Adrian Ooi Kock Aun.
PT Asu in 2012 had agreed to sell to Protasco its 76 per cent stake in PT Anglo Slavic Indonesia (PT ASI), an investment holding company with oil and gas assets in Aceh.
In 2014, a boardroom battle broke out resulting in Tey and Ooi’s removal as Protasco directors. The company sued both Tey and Ooi for US$27 million for breach of fiduciary and statutory duties.
In the statement, Protasco went on to call the police report a “frivolous move”, saying it “covers matters already examined during the removal of Tey and Ooi from the Protascoboard in 2014, and which resulted in criminal charges against Tey and Ooi.”
