Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 4): iDimension Consolidated Bhd's largest shareholders have called for an extraordinary general meeting (EGM) for the immediate removal of two of its executive directors.

According to a special notice filed with Bursa Malaysia today, iDimension has received the requisition of an EGM from Ang Beng Leong, Ang Beng Cheong, Ang Beng Hwa and EClub Interactive Sdn Bhd, representing an aggregate of 18.01% of the total issued share capital of iDimension Consolidated.

They are seeking for the immediate removal of two executive directors, Tan Kian Meng and Pang Lee Fung, and the appointment of Ang Beng Leong and Yap Tet Soon in replacement.

Pang is also the co-founder of the ACE market-listed iDimension.

Based on its latest financial results, the company for the quarter ended June 30, 2017 (2QFY17) registered net losses of RM621,000, compared with RM15,000 previously. This was despite a 29% growth in revenue from RM18.07 million a year ago to RM23.34 million in 2QFY17.

iDimension attributed this to the lower profit margin in its IT business segment, and the high operation costs in its online games business.

As at end of the morning trade today, shares in the counter were not exchanged. It last closed at 6.5 sen, for a market capitalisation of RM32.17 million.

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