MANULIFE’S AJMI AWAITS JUDGEMENT OVER SHARE DISPUTE

The Indonesia-based unit of Canadian insurer Manulife Financial Corp has said that it is “cautiously optimistic” that a protracted dispute over a share deal will soon be settled. Manulife paid about $20m last October in a government-backed auction for a further 40% holding in PT Asuransi Jiwi Manulife Indonesia (AJMI), in which it already held a 51% majority stake. However, a British Virgin Islands-based company called Roman Golds Assets subsequently claimed that it had already bought the stake from a Samoan company. Indonesia’s attorney-general has said that the matter should be resolved within three weeks.