AN Indonesian company claims it was cheated by a Malaysian businessman with a “Datuk Seri” honorific with losses totalling US$33 million (RM138 million) concerning an oil and gas project in Aceh, Indonesia.

The company, PT Anglo Slavic Utama (PT ASU) through its representative Ronie Tangkong, who is also a director, in a statement today said that the businessman falsified several agreements and statutory declarations for his own interest in a business agreement between PT ASU and his company.

“A police report was also lodged on November 2 by PT ASU against the ‘Datuk Seri’ at the Selangor Police Contingent Headquarters,” the company said.

On November 3, 2012, an agreement was signed between Global Capital Limited (GCL) and the businessman for a project to develop and produce oil and gas in Kuala Simpang Timur, Aceh Indonesia.

GCL was appointed and authorised by PT ASU to sell and manage its (PT ASU) assets. It was at the invitation of the businessman that the agreement was signed.

The agreement involved US$55 million, which allowed the company owned by the businessman to acquire PT ASU assets. A total of US$22 million was paid to PT ASU.

“PT ASU was used as a bait by the ‘Datuk Seri’ to woo investors and to get what he wanted, after which he ignored PT ASU,” said the statement.

According to the previous agreement, the businessman had asked GCL to seek investors to take over the shares of a public company where he was working which empowered himself.

“A PT ASU asset purchase agreement was signed at a hotel in Petaling Jaya on December 28, 2012 between the ‘Datuk Seri’ and a PT ASU representative who was one of its Indonesian directors. The parties had agreed to the terms since it was going to bring benefits through the oil and gas projects.

“However, the agreement was later cancelled by his company and caused our company to lose US$33 million. The ‘Datuk Seri’ had malicious intentions in teaming up with the director who had represented the company in the earlier agreement by changing the terms of the original agreement signed on November 3, 2012.

“Both also made a false statutory declaration and the declaration was the reason for the cancellation of the agreement made on December 28, 2012,” added the statement.

Meanwhile, a Selangor police spokesman confirmed receiving the report and added that the matter was under police investigation. – Bernama, November 29, 2018.