KUALA LUMPUR (Jan 18): Two of Menang Corp (M) Bhd s shareholders have commenced a court action against the company and its chairman Raja Shahruddin Rashid.
The group, which announced this in a filing to Bursa Malaysia today, did not state why the action was initiated by the two shareholders, Toh May Fook and Liew Sook Pin. The company and the chairman of the company have instructed solicitors to accept service of the court process and whose advice on the merits of the claim is being sought, it said. Further announcement will be made of any development or changes as and when appropriate, the group added.
PROPERTY developer Menang Corp (M) Bhd, which is less than two weeks away from its annual general meeting on Dec 30, is seeing some eyebrow-raising changes to its boardroom.
On Dec 11, the company saw the appointment of two company secretaries, Cheng Chai Ping and Hua Siew Chuan, without any notice of resignation from the two previous company secretaries. This implies that Menang Corp now has four company secretaries.
Meanwhile, the property developer announced last Thursday that its independent non-executive director Leou Thiam Lai had resigned for “personal reasons”. This means it is now left with one independent non-executive director, Chiam Tau Meng.