UOB to sue ex-CEO of former client Yang Kee Logistics, The Online Citizen and its editor
Source: Straits Times
Article Date: 02 Apr 2025
Author: Kang Wan Chern
The bank’s latest statement comes after it denied on March 28 allegations of improper conduct by its executives.
UOB will sue a former client over allegations of improper conduct by the bank, as well as the news portal that published several articles and a video detailing the allegations, it said on April 1.
“The bank shall be commencing legal action against Mr Koh after he failed to retract his baseless allegations and apologise for his defamatory remarks despite our request for him to do so on March 26,” UOB said, referring to Mr Koh Kien Chon, also known as Mr Ken Koh.
“We shall also be taking appropriate legal action against The Online Citizen (TOC) and its editor, Mr Xu Yuanchen. This is necessary as the allegations are false and defamatory,” the bank added.
The bank’s latest statement comes after it denied on March 28 allegations of improper conduct by its executives dating back to 2016 pertaining to the sale of a property, as well as a breach of confidential information regarding the sale, calling the allegations baseless and defamatory.
The allegations were made by Mr Koh in a statutory declaration on Feb 25.
Mr Koh is the former chief executive of Yang Kee Logistics, which was a client of UOB. The company has since folded.
A statutory declaration is a statement that is affirmed to be true. It is made before a commissioner of oaths, who may be a lawyer, court interpreter, government official or any individual who is authorised to administer oaths and affirmations.
When contacted, Mr Koh told The Straits Times that he has received a letter from UOB and will be appointing lawyers for his case.
Between March 27 and 31, TOC published several articles detailing these allegations, along with Mr Koh’s statutory declaration as well as other supporting documents and audio recordings provided by him.
In a video uploaded on Facebook by TOC on March 28, Mr Koh also claimed that the circumstances of the property sale led to the closure of Yang Kee Logistics, his $500 million family-owned business, and the subsequent loss of some 300 local jobs.
When contacted, Mr Xu referred The Straits Times to TOC’s Facebook post dated April 1, saying UOB’s letter of demand was addressed to a company that has ceased to operate TOC since 2022 following a transfer of ownership and operations.
TOC is currently operated by Miao Yi Infotech, a company incorporated in Taiwan.
The Monetary Authority of Singapore has said it is looking into the allegations made by Mr Koh.
Source: The Straits Times © SPH Media Limited. Permission required for reproduction.
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