Hancock CEO files libel suit

Mon, 04 Dec 2000, 00:00 WIB | Source: DPA

KUALA LUMPUR (DPA): John Hancock Life Insurance-Malaysia
president and chief executive officer John Ng Kim Hoong has filed
a suit against the company for alleged libel.

The Sun daily reported Saturday that the suit for 60 million
Ringgit (US$15.7 million) was filed in the Kuala Lumpur Civil
High Court on Friday.

Ng claimed he was "seriously libeled" when the company
announced to the Kuala Lumpur Stock Exchange (KLSE) on November
20 that it was calling for an extraordinary general meeting on
January 5 next year to remove him as president and CEO.

Ng further claimed the announcement, which was given extensive
media coverage the next day, did not specify any details to
support the company's decision to dismiss him.

By failing to give any specific details to support the
decision for the removal, any reasonable person would believe
that he had committed acts of impropriety or one of a scandalous
nature to warrant his removal in such manner, he said in a
statement.

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