KUALA LUMPUR (Nov 2): Scan Associates Bhd has filed a statement of claim against former chief executive officer (CEO) Datuk Dr Norbik Bashah Idris and former chief financial officer (CFO) Nurul Huda Zaharol Natrar.

In a filing with the exchange today, the company claimed that Norbik and Nurul had breached their duties and responsibilities as principal officers of the company, causing the company to incur losses.

The company said it had entered into an agreement with SCAN Consulting Services Sdn Bhd (SCSSB) worth RM13 million on March 7, 2014, and had subsequently entered into another agreement worth RM5.5 million on March 20, 2014, which resulted in RM2.27 million in contract expenses invoiced to SCSSB, and advanced a total of RM1.33 million in expenses and mobilisation fees to third parties.

"The above amounts totalling RM3.6 million have not been recovered as at to date and were fully provided for in the company's accounts as at June 30, 2015," it said.

Besides that, Scan claimed that the former CFO had misused the company's corporate credit card for personal use, amounting to RM47,900, and that the misuse could not have occurred without the cooperation of the former CEO.

The company also said Norbik has failed to return the company's laptop upon his resignation, which contains Scan's trade secrets, despite several reminders.

Overall, the company's claims include RM3.6 million from the ex-CEO, ex-CFO and SCSSB; RM47,900 from the ex-CEO and ex-CFO; general damages as a result of the unlawful conspiracy between the two former officers; and a declaration that the officers had breached their fiduciary duties towards the company.

The company also claimed interest at 5% per annum on the total damages from the date of filing the statement of claim, up to full payment.

Scan had also highlighted the issuance of the requisition notice on July 23 by Norbik, to convene an extraordinary general meeting for the removal of all existing directors.

The company has also claimed for a declaration that the requisition be null and void, with the former CEO, including his agents, representatives and proxies be prohibited from taking further action in relation to the requisition.

Scan closed unchanged at five sen for a market capitalisation of RM10 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)