KUALA LUMPUR: Tunku Imran Tuanku Ja'afar yesterday announced his resignation as director of all Petra Group companies and as group chairman, saying "enough is enough".

"I am resigning because of a number of reasons, the latest being the recent suit brought against me and the Petra Group by Hollywood star Bruce Willis alleging that I induced him to part with his money to invest in our green rubber project," he said in a statement.

"I have never met Bruce Willis, let alone persuaded him to part with his money. I am, however, relieved that he has amicably resolved the issue with the company," said Tunku Imran, adding that "perhaps an apology would have been appropriate".

On Nov 20, Willis filed a suit in a Los Angeles court to recoup US$900,000 (RM3.2 million) which he claimed the company owed him. But a week later, Willis' lawyer, Martin Singer, said the suit was amicably resolved and that it had resulted from a series of miscommunications.

Tunku Imran, who founded the Petra Group with its chief executive officer Datuk Vinod Sekhar more than 10 years ago, also revealed his frustrations with the group and took its management to task.
He said: "I have been at all times in a non-executive capacity in the group. It has become obvious that I have not been kept up to date and informed of all the ins and outs of the company."

These included new corporate appointments, new investments, new board members and shareholders. Tunku Imran said he had received many "surprises" during his tenure with the group, the latest being the Willis suit.

"The Bruce Willis incident was just one, and unfortunately, the most high profile.

"This incident has brought acute embarrassment to my family, particularly to my royal parents. I feel that the time has come to say enough is enough."

Tunku Imran is the son of the Yang di-Pertuan Besar of Negri Sembilan, Tuanku Ja'afar ibni Almarhum Tuanku Abdul Rahman.

He also disclosed that he had invested a "substantial amount of money" over a long period in the Petra Group but with no returns.

But he said the "green rubber" project had global significance given proper handling and direction.

"As a significant shareholder, I wish the board and the team all the best and good luck for a successful outcome," Tunku Imran said.

The Petra Group said Willis had invested US$2 million last year in its subsidiary, Elastomer Technologies Ltd, a developer of technology to recycle rubber from old tyres.

It said Petra had returned US$1.1 million to the star earlier this year when he pulled out his investment.

But Willis, after the settlement of the suit, said he still held shares in the company and believed that the "green rubber" technology had "vast potential" for the environment.

Petra Group said it has accepted Tunku Imran's resignation.

A company spokesman said: "It is with deep regret that the company has accepted Tunku Imran's resignation. The company accepts that the unfortunate publicity surrounding the legal action by Bruce Willis against the Petra Group had caused embarrassment to Tunku Imran and his royal parents.

"For that, the company is extremely sorry and can only offer profound apologies to Tunku Imran and his royal parents." -- Bernama