Press Release

WE refer to the article “Major shareholder Global Capital of Indonesia sues Protasco managing director, claims RM368m” published by the Sun Daily on 28 Oct 2018.

The Protasco group wishes to say that we see this legal suit as a move to pressure us into ending our push to revive criminal cases against Larry Tey Por Yee and Adrian Ooi Kock Aun.

Aside from these cases for criminal breach of trust and cheating, we also see it as pressuring Protasco to withdraw its own ongoing court cases against Tey and Ooi for breach of fiduciary and statutory duties and 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.

Finally, we would like to clarify that Global Capital Ltd is not and has never been a major shareholder of Protasco, as mistakenly reported by the Sun Daily.