HK Court rules in favour of Astro units

PETALING JAYA: The Hong Kong High Court has dismissed the application by the television unit of Indonesia’s Lippo Group to set aside US$46.77mil in damages which had been awarded to MEASAT Broadcast Network Systems Sdn Bhd – Astro Malaysia Holdings Bhd’s wholly owned subsidiary – and seven other Astro units by the Singapore International Arbitration Centre.

In a filing with Bursa Malaysia yesterday, Astro said the Hong Kong High Court had ruled that Lippo Group’s PT First Media Tbk (PTFM) was not permitted to resist enforcement of the awards granted earlier to Astro and its units, as PTFM had acted in breach of the good faith principle in its conduct in the arbitration.