Depositors fear bank will sink<\/p>\n
KUALA LUMPUR (AP): Hundreds of people lined up at branches of
\none of Malaysia's largest savings banks for the second day
\nyesterday, heeding rumors that its president was ill and the
\ncompany was about to go under.<\/p>\n
Bank Negara, Malaysia's central bank, issued a statement
\nsaying Malaysia Borneo Finance Ltd., which has two million
\ncustomers and a solid record of 28 years, was sound and would
\nmeet any depositor demands.<\/p>\n
The run on one of Malaysia's major finance companies, which
\nhas 151 branch offices nationwide, began Wednesday afternoon
\nafter rumors in the stock market spread that MBf's chief
\nexecutive and president, Loy Hean Heong, was seriously ill and
\nthe company would sink.<\/p>\n
Loy, who has been ill for some time and is hospitalized in
\nParis, issued a signed statement saying the rumors were attempts
\nby manipulators to undermine confidence in Malaysia's financial
\nsystem and share prices of the group's listed companies.<\/p>",
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