CEO vs tycoon
Two prominent business people in Singapore will be battling in court over an art deal that turned sour.
Dr Xiaoyan Baumann, 40, wants a refund of S$300,000 (RM735,000) for 17 paintings and a wood carving she and her husband had bought.
But the seller, Mr Tong Djoe, 82, is contesting the claim and counter- suing for S$500,000 (RM1.225mil) which he alleges was for another seven art pieces delivered to them but were not paid for.
China-born and German-educated Dr Baumann is chief executive officer of the Singapore Medical Group, which runs a cluster of specialist clinics.
Indonesia-born Mr Tong is a millionaire who made his money in shipping, petroleum and trade.
He operates out of an office in Anson Road. Among other artworks, he is said to own a Picasso.
The art pieces were by renowned Indonesian and China-based artists whose works fetch high prices at various auction houses like Christie's and Sotheby's. They include works by Affandi (1907-1990), Hendra Gunawan (1918-1983), Xu Beihong (1895-1953) and Walter Spies (1895-1939). - The Straits Times/ Asia News Network
Published Nov 17, 2009