Khamis, 15 Disember 2011

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NST Online Business Times : latest


Court dismisses ex-Sime CEO's counter-suit

Posted: 15 Dec 2011 05:09 PM PST

Former Sime Darby Bhd Chief Executive Officer Ahmad Zubir Murshid's counter-suit against current and previous senior management of the palm oil and engineering group was dismissed by High Court, according to an exchange filing late yesterday.

Sime Darby filed civil suits against Ahmad Zubir in December 2010 and others following cost overruns on engineering projects in Qatar and Malaysia.

In March, he filed a counter- suit against current and former management including Chairman Musa Hitam seeking indemnity if found liable, which the court this week dismissed as "frivilous and vexatious," the exchange filing said.

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UMW Hlgs slides to 3-year low

Posted: 15 Dec 2011 05:24 PM PST

UMW Holdings Bhd, a Malaysian automotive assembler, declined the most in three years in Kuala Lumpur trading after denying a Business Times report that it was in discussions to buy a stake in national carmaker Proton Holdings Bhd.

The stock slid 4.7 percent to RM6.52 at 9:11 a.m. local time, set for the largest drop since Dec. 2, 2008. -- Bloomberg

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