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)
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)