High Court ruled status quo on Caely Holdings board as per EGM

NST Thu, Jun 23, 2022 09:31am - 1 year View Original


KUALA LUMPUR: The Kuala Lumpur High Court yesterday ruled that the status quo of Caely Holdings Bhd's board of directors remains until the hearing on August 3.

The company said the court has directed that the current position of the board shall be maintained as that prior to the extraordinary general meeting (EGM) convened on June 15.

The direction was made following a new lawsuit filed by plaintiffs Leong Seng Wui, Kok Kwang Lim and Valhalla Capital Sdn Bhd who had sought the EGM on the removal of eight directors from the company's existing board be declared value.

"Following the latest court ruling, the current board shall remain in control of Caely Holdings until the court hearing scheduled on August 3, 2022.

"For now, the board will continue to run the company," said the group's executive chairman Datuk Loh Ming Choon.

To recap, the plaintiffs had requisitioned an EGM which was purportedly held on June 15 which the current board of directors was advised by the company's legal advisers as invalid.

The company had on the same day of the EGM made an announcement stating that the said EGM was adjourned on various grounds, including ongoing litigation cases whereby one of which had been filed by the plaintiffs themselves as well as being subjudice as it interfered with the reliefs sought at the High Court by the company.

"Additionally, the current board of directors had also on June 16 lodged a police report against Leong Seng Wui, Kok Kwang Lim and Valhalla Capital Sdn Bhd who were suspected to have committed serious wrongdoings in Caely by calling for the EGM despite knowing there are on-going litigation cases (including one which had been filed by they themselves)," the company said in a statement.

Besides Loh, the current members of the board are Datuk Sri Sin Hock Min, Wong Siaw Puie,  Khoo Chen Yeng, Datin Fong Nyok Yoon, Datuk Mohamad Hanafiah Zakaria, Ng Mei Choo, Datuk Koh Mui Tee.

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