NST Online Business Times : latest
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. |
| 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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