Payback Time

The controversy over the double sale of shares in PT Asuransi Jiwa Manulife Indonesia (AJMI) took a twist last week with Manulife Finance of Canada, a majority shareholder, claiming to have been offered payment of Rp400 billion as settlement of the dispute.

Manulife increased its stake in AJMI when it acquired a 40-percent equity held by PT Dharmala Sakti Sejahtera for Rp170 billion in an auction on October 26 last year, after Dharmala was offic

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