KUALA LUMPUR (June 4): Tiger Synergy Bhd substantial shareholder Safari Alliance Sdn Bhd (Safari Alliance) has urged its fellow shareholders to send a copy of their registration and proxy forms to [email protected] as a means to check and verify the voting process at the upcoming fully virtual annual general meeting (AGM) on June 9, 2020.

In a statement, Safari Alliance said this was to ensure that the voting process at the AGM is conducted fairly and in accordance to the law.

Safari Alliance director and shareholder Goh Ching Mun said since the AGM will be conducted fully virtually, Safari Alliance is concerned about the security, reliability and accuracy of the digital voting system.

“I have made this personal request to my fellow shareholders after our call for an Independent Scrutineer, to be paid at our own cost, was rejected by the Management of Tiger Synergy,” said Goh.

On June 1, Tiger Synergy had announced to Bursa Malaysia that Safari Alliance has filed a lawsuit against it to allow for the appointment of an independent scrutineer, Fong Choong Fook of LE Global Services Sdn Bhd. 

Goh said the company was doing all it can to ensure its rights and the rights of all shareholders are safeguarded.

“This AGM is critical to shareholders who want Tiger Synergy to turn-around and enhance its market value in a sustainable manner.

“We are concerned with how Tiger Synergy has been managed.

“The Company has raised RM84 million in new share issues but has nothing to show for it except a RM9.3 million loss for the fourth quarter of its recent financial year,” he said.

Goh said Tiger Synergy’s 2019 annual report also showed a hidden additional loss of RM10.2 million treated as a prior year “error”.

“These are just one of the many worrying instances that call for a change in leadership, starting with the Board of Directors,” he said.   

At the AGM, shareholders will amongst others vote whether to elect Goh and five other individuals, namely Tan Say Cheong, Leong Keng Wai, Ng Leong Teck, Azmi Bin Osman and Yeoh Lam Huat, to the Board of Tiger Synergy. 

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