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PUTRAJAYA (Feb 26): The Federal Court today dismissed an appeal by Apex Equity Holdings Bhd and its unit JF Apex Securities Bhd, over the locus standi (legal standing) of its minority shareholders on their opposition to the merger with Mercury Securities Sdn Bhd.
This follows Federal Court judge Datuk Vernon Ong Lam Kiat dismissing their appeal for leave to pose several questions of law to the apex court regarding Section 360 of the Capital Markets and Services Act on the powers of court to make certain orders.
The question surrounds the locus standi (legal standing) of the applicants in filing the originating summons. The law on locus standi is settled. I do not think the leave question has passed the threshold for the court to grant leave. ....

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