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Wiluan family loses bid to stop JM order on KS Energy

High Court grants OCBC's application to place ailing Singapore-listed oil services firm under judicial management

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The latest development is a major blow to founder Kris Wiluan, who had resisted the JM bid, and is separately facing 112 charges of alleged false trading and market rigging.

Singapore

A SECOND attempt by Indonesia's Wiluan family to fight OCBC's bid to place KS Energy and a key unit under judicial management (JM) failed on Tuesday.

In a two-hour JM hearing at the Singapore High Court that was hotly contested by the management of the beleaguered firm,...

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