21 May 2020
LOW YEE MENG 1. LAU KOK LOON @ LAU SAY SIOK (NO. K/P: 430804-10-5423) 2. LAU TEIN KANG (NO. K/P: 780319-14-6045) 3. SEMENYIH JAYA SDN BHD (NO SYARIKAT: 106778-U)
- Citation
- WA-24NCC-175-04/2019 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-175-04/2019 (Mahkamah Tinggi)
The court found on the balance of probabilities that the plaintiff acted in good faith and that the proposed derivative claim was prima facie in the best interest of the Company because Defendant 1 failed to provide any adequate accounting for withdrawals of approximately RM10.6 million, the plaintiff had locus standi as a director and shareholder and had complied with s.348(2), and there was no cogent evidence of a collateral motive; consequently leave under ss.347 and 348 Companies Act 2016 was granted in terms of prayers (a)-(e).