Stockholders to sue KLSE

Stockholders to sue KLSE

SINGAPORE (AP): The association which represents the
Singaporean holders of shares frozen by Malaysia said Saturday it
is setting up a fund to pursue legal action against the Kuala
Lumpur Stock Exchange (KLSE).

David Gerald, president of the Securities Association of
Singapore, said the fund will be for individual investors to take
legal action against the Kuala Lumpur Stock Exchange and its
subsidiaries.

The association has not yet decided the kind of legal action,
Gerald said.

The shares, worth about US$4 billion, are mostly held by about
170,000 Singapore-based investors on Singapore's Central Limit
Order Book. They were thrown into limbo when Malaysia banned
external trading of its stocks in September 1998.