Malaysia Case Law: Decisions & Judgments | LexChat

Topic

Sole shareholder authority

Legal area

Court

22 May 2025

AURELIA JOIE THAI MAXTER GLOVE MANUFACTURING SDN. BHD.

Citation

WA-24NCC-315-06/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-315-06/2023 (Mahkamah Tinggi)

The plaintiff failed to discharge the burden under s348(4) CA 2016: she did not establish good faith nor that granting leave is prima facie in the best interest of the company; the acquisition was approved by the sole shareholder (SCB), was commercially justified, no demonstrable loss or improper accounting was shown, and the application appeared motivated by personal disputes; therefore leave is refused and the application is dismissed.
22 May 2025

AURELIA JOIE THAI MAXTER GLOVE MANUFACTURING SDN. BHD.

Citation

WA-24NCC-315-06/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-315-06/2023 (Mahkamah Tinggi)

The application for leave to commence a derivative action is dismissed because the Plaintiff failed to prove she is acting in good faith and failed to show that granting leave would prima facie be in the best interest of the 1st Defendant: the acquisition was approved by the sole shareholder SCB, was commercially justified, auditors did not find impropriety and any accounting reclassification was a presentation adjustment, there is no demonstrated financial loss or identifiable arguable cause of action, and the application appears motivated by collateral/personal disputes.