KUALA LUMPUR (July 19): The board of directors of APFT Bhd has initiated a civil suit in the High Court against its former directors for breaches of fiduciary duties during their tenure as directors of the company.
In a filing with Bursa Malaysia today, APFT said the suit was filed against its former chairman Datuk Faruk Othman, as well three other former directors Arif Faruk, Tan Boon Leng and Tan Nyap Keong @ Tony Tan.
"The board wishes to announce that case management has been fixed on Aug 17, 2019 before the Kuala Lumpur High Court," it said.
On July 18 last year, APFT had filed the suit against Faruk for alleged misappropriation of APFT funds.
This caused the group to trigger the PN17 status and breach Bursa's Main Market listing requirements.
On Jan 30, however, the group said it had dropped the suit.