Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on March 16, 2016.

 

KUALA LUMPUR: Wintoni Group Bhd has lost its legal proceedings against Kang Choon Leu @ Kang Chee Sim, who was allegedly in possession of documents on the company’s extraordinary general meeting (EGM) that was called to remove the board of directors.

Wintoni told Bursa Malaysia yesterday that the Kuala Lumpur High Court had, last Thursday, dismissed the legal proceedings against Kang for failing or refusing to hand over the meeting documents in connection with the EGM held on Sept 11.

Wintoni had applied for a consequential order that the company be excused from preparing the minutes for the EGM, in view of the ruling. But the court declined to entertain the application for a consequential order and advised the company to make a fresh application in respect of such an issue, said Wintoni.

Wintoni has instructed its solicitors to appeal against the judgement. “In view thereof, the company is unable to prepare and finalise the minutes for the EGM until further notice,” it said.

Wintoni’s 10 minority shareholders requisitioned an EGM in September 2015 to remove the entire board, including executive director Datuk Tey Por Yee. 

The board resigned a day before the EGM. It told Bursa then that the meeting’s chairman had declared the resolution to remove the directors as academic.

On Nov 11 last year, it launched legal actions against Foong & Partners for failing to hand over documents and records in relation to the EGM held on Sept 11.

Foong & Partners claimed that the meeting documents had been handed over to Kang, one of the 10 shareholders of the company who called for the EGM.

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