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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Asia Pacific World Search Search: Bruce Willis wants cash back from Malaysia company AP - Saturday, November 22 KUALA LUMPUR, Malaysia - A Malaysian technology conglomerate pledged Friday to repay $900,000 to Hollywood star Bruce Willis, but denied any wrongdoing after he took legal action to demand a refund of his investment. The Kuala Lumpur-based Petra Group environmental technology company said Willis invested $2 million in its subsidiary, Green Rubber, a developer of technology that can recycle rubber in old tires, in 2007. Petra returned $1.1 million to Willis earlier this year when he decided to pull out his investment. U.S. news reports said the star of the "Die Hard" action films filed a court complaint in Los Angeles this week to recoup the remaining $900,000. The company said in an e-mailed statement to The Associated Press that it intends to pay Willis the balance "within the next few weeks" and that the actor need not have filed the court complaint. Petra Group is "very surprised by Mr. Willis' actions and refute in the strongest possible terms any allegations of impropriety," it said. Green Rubber had been seeking an initial public offering in London when Willis made the investment last year, but the Petra Group's chief executive agreed to buy back the star's shares at any point "as a gesture of goodwill," the statement said. "Unfortunately, the market then took an unforeseeable severe downturn, caused by the global credit crunch, and flotation plans had to be put on hold," the statement added. "Mr. Willis asked to sell his shares back ... despite the company's exceptional underlying operating performance." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Hollywood Bruce Willis wants cash back from Malaysia companyAP - Saturday, November 22 Sean Stewart settles case over fightAP - Friday, November 21 Paris Hilton and Benji Madden split after 9 monthsAP - Thursday, November 20 Next deadline in actors dispute: awards seasonAP - Thursday, November 20 Related Articles: Entertainment & Lifestyle Madonna, Ritchie granted preliminary divorceAP - 1 hour 38 minutes ago Bruce Willis wants cash back from Malaysia companyAP - Saturday, November 22 Indian TV staff strike again, hours after calling off stoppageAFP - Friday, November 21 Surprise! Violinist Shaham gets Avery Fisher PrizeAP - Friday, November 21 Pensions frozen at Random House Inc.AP - Friday, November 21 Related Full Coverage Paris Hilton American celebutante, businesswoman, model, actress All Full Coverage Most Popular – Entertainment Viewed Wall Street plunges again as panic spreads Is superfood omega-3 keeping its promise? Oil prices slump under $50 per barrel World stocks dive as panic spreads Obama girls visit their future White House home View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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