Asiatic defends power plant investments in the face of shareholders' criticisms

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SINGAPORE (June 8): Asiatic Group insists its power plant investments remain viable amid criticism from some minority shareholders that they have been mismanaged and that their financial terms are questionable.

(See: Dissenting minority shareholder moves to stir up Asiatic Group, says will issue open letter on May 9)

(See: Asiatic responds to dissenting shareholder Low)

One of the bigger complaints is the way Asiatic has steadily increased its exposure in a biomass power joint venture in Malaysia called Maju Intan Biomass Energy (MJE).

Asiatic first invested in this venture in October 2009, when it spent RM10 million (S$3.3 million) for a 30% stake... (Click here to read the full story)