6 Mar 2025
1. ) BINA HARTA GROUP SDN. BHD. 2. ) LEE LUN TEONG 3. ) OO HENG TENG 4. ) CONEFF CORPORATION SDN. BHD. 1. ) YEE CHEE PANG 2. ) YEE JUNG DNG
- Citation
- WA-24NCC-122-03/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-122-03/2024 (Mahkamah Tinggi)
The court held that the definition of a preference share in s2 of the Companies Act 2016 does not operate as an absolute prohibition on a company conferring voting rights by its constitution; Clause 7(e) did not contravene s32(2). Consequently the Plaintiffs failed to establish a good arguable case for an injunction restraining EGM resolutions. However, the Defendants demonstrated serious issues of misappropriation, HDA breaches and mismanagement warranting the grant of their interlocutory reliefs in Enclosure 19 except for Prayer 7; the EGM resolutions of 29.1.2024 are to be implemented imme…