Segal gulled

[NBH03114@xxxxxxxxxxxxxxxx]

Errors-To:owner-burmanet-l@xxxxxxxxxxx
FROM:NBH03114@xxxxxxxxxxxxxxxx
Burmese Relief Center--Japan
DATE:July 12, 1995
TIME:15:50JST 

PEREGRINE FIRES BURMA UNIT HEAD, CITING
 SECRET' PLAN TO HURT FIRM

by James T. Areddy
AP Dow Jones News Service 

Hong Kong - Peregrine Investments Holdings Ltd. said it
has fired the executive chairman of its Burma unit, Miriam
Marshall Segal, saying she had a "secret" plan to "to damage
the business interests of the company and further the
interests of a competitor."

The Hong Kong securities firm said it had obtained
documents last month showing that Ms Segal "together with
third parties had secretly planned over a period of time to
obstruct and defeat the commercial objectives of the
company."  

Peregrine said that on June 29 the firm's Hong Kong office
received an apparently misguided facsimile letter from Ms.
Segal dated the previous day that spelled out the "secret
proposal."  Peregrine said it subsequently recovered
documents from Ms. Segal's assistant that "confirmed and
added significantly to what the first copy fax had indicated."

The firm said it also found documents that suggested Ms.
Segal planned to divert business to a firm of her own and
away from Peregrine.

Peregrine also claims it determined Ms. Segal improperly
had revealed confidential Peregrine information to the firm's
competitors, while it also said she had unauthorized
consultancy agreements with foreign multinationals.

Ms. Segal, a U.S. citizen who has lived in Burma for more
than a decade, couldn't be reached for comment.  A person
answering her home telephone Tuesday said she is in New
York.

Peregrine said it has limited the amount of damage done by
Ms. Segal and is considering legal action against her.

"The company has acted promptly in order to avoid further
damage to the company's interests as a result of Ms. Segal's
actions and meetings will be arranged as soon as possible
with senior officials of the government of Myanmar to
clarify the company's position in relation to its existing
business in Myanmar," Peregrine said.  Myanmar is the
name preferred for Burma by the State Law and Order
Restoration Council, the military junta that seized power in
1988.  

Officials in Peregrine's Hong Kong headquarters didn't
return phone calls seeking elaboration on Tuesday's
statement.

Ms. Segal had been affiliated with Peregrine since the Hong
Kong firm established its Rangoon foothold in 1994.  Ms.
Segal held the post of executive chairman of the Peregrine
Myanmar Ltd. unit.