UOB to take legal action against former Yang Kee Logistics CEO, The Online Citizen over ‘defamatory’ remarks
The bank says Ken Koh failed to retract and apologise for the allegations he made
[SINGAPORE] UOB will initiate legal proceedings against Ken Koh, the former chief executive of Yang Kee Logistics, after he failed to retract and apologise for “baseless” and “defamatory” allegations.
The bank will also pursue “appropriate legal action” against online news portal The Online Citizen (TOC) and its editor Xu Yuanchen – better known as Terry Xu – a UOB spokesperson said on Tuesday (Apr 1).
TOC published an article on Mar 27, accompanied by video and audio recordings, alleging that UOB acted against Yang Kee Logistics’ interests during the sale of its properties to real estate firm Logos. The report also accused the bank of mishandling confidential information.
Shares of UOB closed 1 per cent or S$0.38 lower at S$37.71 on Tuesday.
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