The Board of Commissioners of PT Tiga Pilar Sejahtera Tbk (AISA) held the Extraordinary Meeting of Shareholders (RUPSLB) on October 22, 2018 and elected a new Board of Directors to lead the Company. Since then, we barely heard of anything about the ongoing disputes in the Company, and the two sides of management who aggressively conducted media war had been very quiet. But the silence did not last long because last week, the new management of the Company filed a tort lawsuit against the previous management lead by Joko Mogoginta. This time, the new management accuses Joko et al of embezzling the Company’s money to buy shares in PT Arbe Styrindo and PT ABS Industri Indonesia. The lawsuit is surprising because what we all know so far is that the two mentioned companies are related to South Korea-based Lotte Advanced Materials Co.
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