Datuk Choong Chee Meng, who controls ACE Group formerly the second largest shareholder of Apex Equity Holdings Bhd has resigned as Apex Equity's group managing director.
Apex Equity Holdings Bhd's share price has leapt over 13% a day after announcing that the Securities Commission Malaysia (SC) initiated legal action against the company in relation to its second-largest shareholder, ACE Group.
Apex Equity Holdings Bhd's second largest shareholder, ACE Group, is back on the radar of the Securities Commission Malaysia with the regulator going to the court to prevent the group from taking control of the stockbroking firm.