November 23, 2008

Malaysian People In The News- Bruce Willis

Bruce Willis Sues Petra And Tunku Imran
B.K. Sidhu
Business, The Star Online
22nd November 2008

Summary

Hollywood actor Bruce Willis has sued the Petra Group and its chairman, Tunku Imran Tuanku Ja’afar, to recoup US$900,000 (RM3.1mil) of the US$2mil the actor invested in a “green rubber” venture.

Best Quotes

In his complaint filed in the federal court in Los Angeles yesterday, Willis said Petra chief executive officer Datuk Vinod B. Sekhar and Tunku Imran induced him to invest in a company that was developing a non-toxic and recyclable rubber in 2007, according to a Bloomberg report.

Willis, the star of the 1988 hit action film, Die Hard, accused the Petra Group and its executives of breach of contract and unjust enrichment.

In response to the suit, Vinod, who owns Petra Group, told StarBiz yesterday: “It is a minor shareholder issue and we are surprised as we already agreed to take care of it. The current market softening is making people react.’’

While Willis wants his money back, Gibson was quoted in the Petra Group statement as saying: “When you make investments in companies that have the potential to have such a significant positive impact on the world, you do it for the long-term gains and not for quick return. I am in it for the long term.”

Efforts to call Tunku Imran were not successful.

Stuff Mentioned

2 comments:

Aidan said...

WHAT??!?!?!

Amritpal Singh said...

There goes the foreign investments to Malaysia. Slackers!