Insas's police complaint sheds new light on the fireworks of Ayer Molek saga

Article Abstract:

Malaysian bank Insas Bhd. accused Abdul Murad Khalid of Bank Negara Malaysia and Tong Kooi Ong of Phileo Peregrine Securities Sdn. Bhd. of being involved in the plot to cheat Ayer Molek Rubber Co. Bhd. of its stocks. In its complaint to the Malaysian police, the bank alleged that the two executives conspired to cheat Ayer Mulek 12% of its stock in a stock purchase. Bank Negara and the stockbroker denied the allegations and demanded Insas to produce documentation to support its claims.

Commercial Banks, Commercial Banking, Cases, Securities fraud, Bank Negara Malaysia, Insas Bhd., Abdul Murad Khalid, Tong Kooi Ong, Rakyat Merchant Bankers Bhd.

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Central-Bank unit defers payment on foreigners' notes

Article Abstract:

PT Bahana Pembinaan Usaha Indonesia, an investment bank 82%-owned by Indonesia's central bank, has delayed payment on $20 mil in promissory notes held by foreign investors. The decision was prompted by the decline in rupiah's value. According to executives apprised of the matter, Bahana paid noteholders 10% of the amount payable and issued new promissory notes to cover the remaining amount. Bahana's debt problem may pose greater consequences since it is a central bank subsidiary.

Investment Banking and Securities Dealing, Investment Banking, Security brokers and dealers, Management, Economic aspects, Investment banks, Indonesia, PT Bahana Pembinaan Usaha Indonesia

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