Press Release

We refer to the article “Indonesian firm claims it was cheated of RM138mil by 'Datuk Seri' for petroleum project” by Bernama News on 29 Nov 2018, about a police report lodged by PT Anglo Slavic Utama (PT ASU), and carried by various media outlets.

Protasco Berhad views PT ASU’s police report and media statement as attempts to pressure us into ending our push to revive criminal cases against Larry Tey Por Yee and Adrian Ooi Kock Aun, for criminal breach of trust and cheating.

We are happy to leave the police to investigate as we believe this latest police report covers matters already examined during the removal of Tey and Ooi from the Protasco Board in 2014, and which also resulted in criminal charges against Tey and Ooi.

In addition, we see this move as a frivolous one to pressure Protasco to withdraw its own ongoing court cases against Tey and Ooi for breach of fiduciary and statutory duties and to seek USD27 million in damages. We believe we have strong grounds to win and we remain steadfast in seeking justice and recovering what is due to Protasco and all its shareholders.