KUALA LUMPUR (Feb 15): Menang Corp (M) Bhd has suspended two non-independent and non-executive directors from exercising their duties and functions as directors of the company with immediate effect.
In an exchange filing today, the company said the board of directors had resolved to suspend Datuk Shun Leong Kwong and Marianna Aly Shun.
It said the suspension would be in effect until the conclusion of findings of an independent investigative committee.
The reason for Shun s suspension is to investigate his handling of some land transactions in Seremban 3 and the company s subsidiaries.
Meanwhile, the reason behind the suspension of Marianna is to investigate her conduct in the planning and the organising of the last annual general meeting of the company held on Dec 30, 2020, noted the group.
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.