Terry Xu and publisher of The Online Citizen ordered to pay S$125,000 for defaming UOB

Terry Xu and publisher of The Online Citizen ordered to pay S5,000 for defaming UOB


SINGAPORE: The United Overseas Bank (UOB) was on Wednesday (Mar 4) awarded damages of S$125,000 (US$97,800) for defamation by Mr Terry Xu Yuan Chen and Miao Yi Infotech, a Taiwan-based company that publishes The Online Citizen (TOC).

UOB had sued Mr Xu, who relocated to Taiwan after being sentenced for criminally defaming Cabinet members in a separate case, over a series of articles and social media posts alleging financial scandal, criminal wrongdoing and coercive conduct towards UOB customers.

An article was published on TOC on Mar 27, 2025 headlined “Ex-CEO accuses UOB of coercion, threats, and S$500M corporate raid”, along with three Facebook posts linking to the article.

The article alleged that UOB customers, Yang Kee Logistics (Singapore) and its chief executive officer, Mr Koh Kien Chon, had been “played out by bankers” in what it claimed was potentially Singapore’s “largest financial scandal”.

The article alleged, among other things, that the company had “damaging transactions” forced upon it, including convertible bonds with “an exorbitant 27 per cent annual interest rate”, with terms imposed “under duress” and “threats”.

Despite being sent a letter of demand from UOB’s solicitors a day after the article was published, TOC published another article headlined: “Yang Kee Logistics: The Question isn’t if Yang Kee struggled – it’s what UOB did next” and a related Facebook post.

This article, UOB argued, claimed that the bank had caused the downfall of Yang Kee and had sabotaged Yang Kee in conduct that was not in integrity, fairness or trust.



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