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Rich Capital gets legal demand from partner over Batam project

Karya Indo Batam wants full control of joint venture property development in Batam and S$20 million in compensation

Published Fri, Sep 13, 2019 · 09:50 PM

Singapore

RICH Capital Holdings has received two legal letters from an Indonesian law firm appointed by Karya Indo Batam (KIB) demanding full control of a joint venture property development in Batam and compensation of S$20 million.

KIB had partnered with an indirect subsidiary of Rich Capital, Oxley Batam Pte Ltd, to form an equal joint venture company, Oxley Karya Indo Batam (OKIB), to undertake t…

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