Friday, 24 December 2010

TODAYonline | Business | Business in Brief | Sime Darby sues former CEO, others for $141.8m

Sime Darby yesterday filed a civil suit against its previous president and chief executive, Mr Ahmad Zubir Murshid, and four other former company officials, in an attempt to recoup some of the losses incurred in its troubled energy and utilities division.

In a stock exchange filing, the Malaysian-based multinational said the suit was in connection with the Qatar Petroleum Project, the Maersk Oil Qatar Project and a marine vessel construction project.

It is claiming a total of RM338.5 million ($141.8 million) in specific costs relating to the projects, as well as other damages and costs.

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