Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Share capital dilution

Legal area

Court

13 Mar 2023

PEMPETISYEN TAN PIT MOOI 1. ) JAIA SDN BHD 2. ) JASMINE JANE MOHAN 3. ) LAW WEN JIA 4. ) ANDY TAN KIAN KOK

Citation

WA-28NCC-667-11/2020 (Mahkamah Tinggi)
Court

High Court
Case number

WA-28NCC-667-11/2020 (Mahkamah Tinggi)

Petitioner failed to prove R1 was a quasi-partnership or that there was a management deadlock; after valid capitalisation the Petitioner held only c.0.12% so she lacked standing to claim deadlock; evidence showed respondents acted for company benefit and the petition was motivated by ulterior motive; therefore winding-up was not justified and petition is dismissed.
15 Sept 2022

AMEGAJAYA VENTURES SDN BHD 1. ) SINMAH AXIS HEALTHCARE SDN BHD 2. ) SINMAH CAPITAL BERHAD 3. ) FONG KIAH YEOW 4. ) FONG KOK YONG 5. ) HONG KOEI TENG 6. ) FONG NGAN TENG 7. ) FONG CHOON KAI 8. ) PREMELA A/P A K NADAN

Citation

BA-24NCC-73-07/2021 (Mahkamah Tinggi)
Court

High Court
Case number

BA-24NCC-73-07/2021 (Mahkamah Tinggi)

Plaintiff failed to prove oppression or disregard: the debt capitalisation was bona fide and necessary to cure insolvency; Plaintiff was aware and had the opportunity to subscribe; failure to name and join the current shareholders who executed the capitalisation is fatal to reliefs affecting their rights; directors 3rd–8th not shown to be sufficiently connected to oppressive conduct; accordingly the Originating Summons is dismissed and the strike‑out application allowed.