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SINGAPORE \u2013 The chief editor and publisher of The Online Citizen (TOC) have been ordered by the High Court to pay $125,000 in damages to UOB for defamation. <\/p>\n
UOB had filed a suit on April 3, 2025, against Mr Terry Xu, who is based in Taiwan, and Miao Yi Infotech, a company in Taiwan that publishes TOC.<\/p>\n
The defamation centred on the bank\u2019s dealings with its customer, Yang Kee Logistics, and the firm\u2019s former chief executive, Mr Koh Kien Chon, who is also known as Ken.<\/p>\n
TOC had published a series of articles and social media posts in March 2025 which alleged that <\/p>\n UOB had coerced Yang Kee into making various transactions<\/p>\n <\/a> that ultimately caused the firm\u2019s downfall.<\/p>\n UOB had sought $150,000 in damages for the \u201cfalse and baseless\u201d allegations, saying that it intended to donate to charity whatever it can recover from the defendants.<\/p>\n Mr Xu and Miao Yi chose not to participate in the court proceedings.<\/p>\n The amount of $125,000 awarded is understood to be the highest reported award of general damages to a corporate claimant for defamation in Singapore.<\/p>\n The only other case in Singapore involving a corporate claimant of equivalent standing was one in 1994 where OCBC was awarded $50,000. <\/p>\n In written grounds issued on March 4, Assistant Registrar Vikram Rajaram said the defamatory publications \u201cstruck at the core attributes essential to a banking institution\u2019s reputation and were disseminated widely through online platforms\u201d. <\/p>\n On March 27, 2025, TOC published an article on its website with the headline \u201cEx-CEO accuses UOB of coercion, threats, and S$500M corporate raid\u201d. <\/p>\n Three posts were also made on TOC\u2019s Facebook page, each containing a link to the article.<\/p>\n In the article, Mr Koh outlined a series of transactions allegedly forced on his company, including buying convertible bonds with an \u201cexorbitant\u201d 27 per cent annual interest rate.<\/p>\n Mr Koh claimed that UOB executives threatened to withdraw essential financial facilities if he did not go along with the transactions.<\/p>\n He also alleged that UOB had improperly leaked information about confidential acquisition talks between Yang Kee and French logistics giant Geodis.<\/p>\n Mr Koh accused UOB of sabotaging this offer by issuing a default letter, a move that effectively blocked any potential rescue, and of undermining negotiations for another potential rescue deal.<\/p>\n The next day, despite being sent a letter of demand from UOB\u2019s lawyers, TOC published another article and a related Facebook post.<\/p>\n This article stated that while Yang Kee had financial issues, the purported \u201creal story\u201d was how UOB\u2019s actions pushed the firm into collapse. <\/p>\n It was followed by two more articles on March 29, 2025. The articles stated, among other things, that TOC was the only media outlet to bring this matter to light.<\/p>\n