Singapore – Singapore's High Court upheld a US$250 million arbitration award to Malaysian billionaire Ananda Krishnan’s Astro All Asia Networks against its former Indonesian business partner Lippo Group over a failed pay-TV venture. Astro had back in 2005 formed a joint venture with First Media and other affiliates of the Lippo Group to establish a pay-TV business in Indonesia. The joint venture was not concluded, and in 2008 Astro commenced arbitration proceedings in Singapore … [Read more...] about Court upholds Astro’s US$250m arbitration award from Lippo
Lippo Group
ASTRO dissociates from alleged Indonesia impropriety
Jakarta - Astro All Asia Networks plc has clarified its position regarding Lippo Group's PT First Media and the arrest of its president director Billy Sindoro on bribery charges. In a statement company said, "Astro has no association whatsoever with Billy Sindoro and PT First Media, a company owned by the Lippo Group. Billy Sindoro and his associates were also not acting on instructions from Astro." PT First Media and other Lippo Group companies are in dispute with Astro over a proposed joint … [Read more...] about ASTRO dissociates from alleged Indonesia impropriety
