Free Malaysia Today·3 min read·medium
Court upholds RM84.64mil fraud ruling against ex-Protasco directors
V
V Anbalagan
✦AI Summary
The Malaysian Court of Appeal has upheld a ruling requiring two former Protasco Bhd directors to pay RM84.64 million in damages. The court found the pair guilty of breaching fiduciary duties and fraudulently inducing the company into a failed Indonesian oil and gas investment.
The Court of Appeal upheld a High Court ruling ordering two former Protasco Bhd directors to pay RM84.64 million over a fraudulent US$27 million investment in an Indonesian oil and gas venture.
businesspolitics
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