Phileo suit against Malaysia exchange may have far-reaching effect on rivals
Article Abstract:
Phileo Allied Securities Sdn. Bhd. accused the Kuala Lumpur Stock Exchange (KLSE) of preventing it from giving rebates to AlliedBank Malaysia Bhd., a related bank which allows Phileo customers to trade via its electronic banking facilities. In a suit filed to the Malaysian High Court, Phileo also cited that KLSE failed to secure a legal authority to issue the directive that ordered it to stop broking through rebates and discounts. The suit is expected to call attention to the relationship between Malaysia's banking and broking industries.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Confidence is eroded in Malaysia's damage control
Article Abstract:
Malaysia's plunging stock market mirrors a loss of confidence in the nation's capacity to handle the financial misfortunes that are posing a threat to several of the country's most popular companies, their owners and creditors. The falling stock market is inclined to aggravate the financial woes of listed firms and key stockholders that are already saddled with debts. The Malaysian stock exchange's composite index dropped 11% to 536.62 in 1997, its lowest stage since 1991, and then recovered to 560.09.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Merrill sues in Singapore: fallout with ex-employee may damage firm's push into Asia
Article Abstract:
Merrill Lynch and Company Inc has filed a case against former US banker Kevin Wallace for allegedly engaging in unauthorized trading, misrepresenting or falsifying private-client statements and forging client signatures. The company's case against one of its highest earning traders may affect the company's Asian expansion plans like the one that involved Barings PLC. The company fired Wallace effective May 15, 1997 and filed criminal and civil suits against him in Hong Kong and Singapore.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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