Mar 1, 2006

ECM Libra sues Husam over articles

(The Star) KUALA LUMPUR: Financial advisory firm ECM Libra Bhd has sued PAS vice-president Husam Musa for libel over his two articles on Khairy Jamaluddin’s purchase of a stake in the company.

Also sued is Edisi Prima Sdn Bhd, the publisher of which carried the articles.

In the suit dated Jan 17, ECM Libra claimed that the articles published on Dec 29 last year and Jan 9 this year had defamed the deputy Umno Youth chief.

The first article was titled Bagaimana Khairy Membeli Saham ECM Libra (How Khairy Bought ECM Libra Shares) while the second article, Surat Saman ECM Libra Tidak Akan Hentikan Saya – Husam (ECM Libra’s Letter Of Demand Will Not Stop Me – Husam), had allegedly aggravated the damages suffered earlier.

Khairy is ECM Libra Capital Director of Corporate Advisory.

It was announced to Bursa Malaysia last Dec 27 that he bought a 3% stake in the broker and boutique investment house.

It was also announced that Khairy bought about 13 million shares in the firm in separate transactions from ECM Libra chairman Datuk Kalimullah Masheerul Hassan, chief executive officer Lim Kian Onn and chief operating officer Chua Ming Huat.

ECM Libra is seeking a full and unqualified retraction of the articles on the Net and four major dailies, plus damages.

Yesterday, High Court Justice Tee Ah Sing fixed April 20 to hear an inter-parte application for the injunction.

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