Malaysia-Indonesia Tycoons Set To Duke It Out In Singapore
Jul 17, 2012 10:40
Things are heating up between Malaysian billionaire T. Ananda Krishnan and Indonesian conglomerate James Riady of the Lippo Group. The battle between two of Southeast Asia’s richest men is set to take place in a Singapore High Court over a US$300 million (RM954.54 million) broadcast joint-venture deal gone sour, with a hearing has been scheduled on July 23 and 24.
It all started with a business dealing between the two groups in 2005, in which a
joint venture was formed to set up a direct-to-home pay TV business in
Indonesia. Between 2005 and 2008, Ananda’s Astro All Asia Networks Ltd (ASTRO) spent hundreds of millions of dollars funding the pay TV business at the request
of the Riady's Lippo Group.
In February 2010, ASTRO won the award against Lippo during an arbitration process in Singapore over an unsuccessful joint-venture with a subsidiary of a member company in Lippo, which made the latter head to the Singapore courts to challenge ASTRO's right to enforce the arbitration award against it.
At the height of the dispute, police reports were
lodged against ASTRO and its representatives, including executive deputy
chairman Ralph Marshall, by groups linked to Lippo alleging criminal
behaviour. ASTRO has since denied the allegations.
Both parties are also set to go to trial in Hong Kong on Aug 3, where the Lippo Group has sought to set aside a garnishee order obtained by ASTRO to compel another Lippo company calledAcross Asia to cough up US$44mil (RM140mil) to ASTRO as part settlement of the full awards.
Introduction and Conclusion can cause the biggest problems for your research paper at college or university. You will be surprised, but the research part is not the most difficult one for a lot of students. The biggest problems they face when writing an Introduction and Conclusion. They don't know what can be included and what can't be included in these parts, while keeping a healthy balance between an introduction, body, and conclusion in terms of word count. Read more
Given the individuality and uniqueness of every person, some things in life have to be unified. White collars are to dress in the classic style to work, while pupils wear school uniform on a daily basis. This allows for consistency and accuracy in their respective institutions just like the formatting does in writing. For clear and digestible expression of ideas, essays follow a certain structure, consist of particular elements, and have a special layout. Read more
Bike ride is the most elementary form of transport. In earlier days, it was the first human powered vehicle that later transformed the face of automation. The first bicycle appeared around 400 years ago. Slowly innovation and technology shaped the rudimentary bicycle into the modern day road bike that we are so accustomed to see. Read more