New high for Dagang NeXchange Bhd
KUALA LUMPUR: The Magistrates Court has discharged and acquitted Multi-Usage Holdings Bhd
(MUH) directors Ang Kim Cheng @ Ang Teng Kok and Ang Hwei Chyn, as well as former directors Cheah Chin Huat and Abdul Aziz Mat, of the charge of failing to circulate a notice for the company’s AGM that included proposals of certain shareholders.
The property developer told Bursa Malaysia that the Magistrate in Georgetown, Penang, had on 14 April 2017 discharged and acquitted them for alleged contravention of section 151 of the Companies Act, 1965.
They were charged with failing to circulate the notice for the meeting which contained statements on resolutions and proposals by shareholders owning more than 5% of the company’s shares through a letter dated April 27, 2015.
MUH announced on June 12, 2015, that the board had rejected the 10 shareholders’ request to move ordinary resolutions for election of four persons as directors at the company’s 23rd AGM.
At present, another MUH director Tan Chew Hua is under investigation after Ang Kim Cheng, who is MUH executive chairman, lodged a police report in January.
Tan has been suspended until May 28 pending the completion of the probe by an independent committee set up by the board.
Initially, Tan was suspended on Nov 28, 2016, to investigate into the matters highlighted in a qualified auditors’ report and special audit report.
On Jan 19 this year, Ang filed a police report for Tan’s alleged unauthorised use of the company’s letterhead and the submission of unauthorised documents to the Companies Commission of Malaysia.
“TCH (Tan) is a non-executive director and has been suspended from performing his duties as a director. Therefore, he does not have the rights to execute any letters under the letterhead of the company legally,” MUH said.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
