D
Da Qiao
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Oct 22, 2010
Ramba CE: Charges dismissed
By Francis Chan
CRIMINAL charges against the chief executive of a Singapore-listed oil and gas firm have been dismissed by an Indonesian court. In February, Ramba Energy chief executive officer (CEO) and executive director Aditya Wisnuwardana Soeryadjaya was charged with, among other things, corruption, embezzlement and money laundering in Indonesia.
His lawyer, Mr Nicholas Narayanan, told The Straits Times today that a verdict of dismissal was delivered on Thursday by a panel of judges from the Central Jakarta District Court. The charges against Mr Soeryadjaya were related to a dispute over the ownership and shareholdings of Indonesian oil and gas company Tristar Global Holdings Corporation.
Mr Soeryadjaya is also a director at Tristar Global. The dispute reportedly arose because he was allegedly trying to force a takeover of Tristar Global, which is incorporated in the British Virgin Islands. Ramba said in a regulatory filing with the Singapore Exchange yesterday that the verdict has restored Mr Soeryadjaya's "rights, dignity and good reputation, which have been damaged by the court proceedings".
