Bloomberg and the reporter Low De Wei are liable to pay S$230,000 to each minister, comprising S$170,000 in general damages and S$60,000 in aggravated damages, said the judgment.
Bloomberg Editor-in-Chief John Micklethwait said he was disappointed by the ruling and that the company continued to stand by its reporter and the newsroom.
"We argued at trial that our reporting was accurate and served an important public interest, and we continue to believe that the ministers have imposed an extremely strained meaning on what was a solid story," he told Reuters in an email. He did not say whether Bloomberg planned an appeal.
An exterior view of the Bloomberg building is seen in New York, Nov. 7, 2013. Photo by Reuters
The law firm that represented the ministers did not immediately respond to a request for comment.
