Tong is fast gaining clout as well as ruffling feathers as an upstart businessman in Malaysia

Article Abstract:

Phileo Allied Bhd. has rapidly risen to the top of Malaysian business and industry, despite being one of the youngest and smallest firms in the country. CEO Tong Kooi Ong has also become one of the major players in the country's financial sector. Tong has also ventured into real estate and banking in his goal to build a highly integrated financial company. Tong's swift rise to the top, however, has earned him some formidable adversaries, such as executives and brokers at the Kuala Lumpur Stock Exchange, who are irked by his aggressiveness and disdain for broking cartels in Malaysia.

Financial Services, Finance and Insurance, Management, Financial services industry, Malaysia, Corporations, Corporations, Malaysian, Tong Kooi Ong, Phileo Assets Sdn. Bhd.

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PLN sues to cancel contract

Article Abstract:

PT Perusahaan Listrik Negara (PLN), the state-owned electric utility in Indonesia, has filed suit in an effort to terminate a 1994 power-supply agreement with PT Paiton Energy. PT Paiton, a Japanese-American consortium, is the owner of the $2.5-billion power plant located in East Java, Indonesia. PLN is claiming the supply contract, negotiated during the Suharto era, is filled with elements of cronyism, nepotism and corruption that is 'grossly unbalanced' in favor of PT Paiton.

United States, Contracts & orders received, Electric Power Generating, Electric Power Generation, Cases, Electric utilities, Indonesia, Contracts, PT Paiton Energy, P.T. Perusahaan Listrik Negara, Electric power production

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