Low Tuck Kwong sues Peter Kwee for A$9.6 million over alleged material defects
This pertains to a S$32.2 million agreement to buy out Kwee’s shares in three companies that own properties
[SINGAPORE] Indonesian coal mining billionaire Low Tuck Kwong and his company are suing motoring tycoon Peter Kwee and another individual for A$9.6 million (S$8.5 million) over alleged material defects, after buying out their shares in a group of companies that own properties.
Before Low and Energy Resource Investment bought over the remaining 51 per cent stake, he and his company were minority shareholders while Kwee and Chan Kok Choon were majority shareholders of the three entities: International Golf Resorts, Joondalup Country Club and Kingsfield Corporation.
These companies’ assets include a hotel, two country clubs with a golf course each, and residential properties in Australia, based on the statement of claim dated Nov 13, 2025.
TRENDING NOW
Why US$100 oil, 5% US yields affect Singdollar, ringgit differently vs other Asean currencies
Singapore fintechs struggle to find finance and tech talent
Despite the de-dollarisation debate, demand for dollar liquidity in Asia is growing
Why Tan Aik Keong of digital solutions specialist Agmo wants to make himself less indispensable
