The two men had known each other since the 1980s. Read more at straitstimes.com.
SINGAPORE - A business relationship of over thirty years came to a bitter end in a lawsuit, as one man accused the other of pocketing over $600,000 of his money.
In a judgment released on July 4, Justice Philip Jeyaretnam ruled that Mr Niew’s acts were “commercially unfair”. “Somewhere along the line, perhaps because he believed he was solely responsible for the companies’ success, Mr Niew took for himself dividends and director’s fees that rightfully belonged to Mr Deniyal.”
Practically, Mr Niew headed and controlled the companies, while Mr Deniyal was a senior operations manager who mainly supervised work at Keppel Yard.
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