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Astral Supreme sues former MD for RM15.51m

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Astral Supreme sues former MD for RM15.51m Empty Astral Supreme sues former MD for RM15.51m

Post by Cals Fri 15 Aug 2014, 23:07

Astral Supreme sues former MD for RM15.51m
Business & Markets 2014
Written by Yen Ne Foo of theedgemalaysia.com   
Friday, 15 August 2014 09:15

KUALA LUMPUR: Astral Supreme Bhd is suing its former managing director Ong Tai Chin @ Wong Tai Chin for alleged breach of fiduciary duty and breach of duty of care during his tenure.
In a statement to Bursa Malaysia, Astral Supreme had filed a legal suit in the Kuala Lumpur High Court on Tuesday and is claiming for losses amounting to RM15.51 million and other damages.
The group said the losses were discovered by the company’s statutory auditors Messrs Morison Anuarul Azizan Chew and its special auditors Messrs PKF Advisory Sdn Bhd for the company’s annual audited accounts for financial year ended Dec 31 2013, after an investigative review.
Ong is expected to file an appearance in court within 14 days of receiving the writ.

This article first appeared in The Edge Financial Daily, on August 15, 2014.
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