Scan Associates director resorts to legal action to appoint receiver, manager
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Scan Associates director resorts to legal action to appoint receiver, manager
Scan Associates director resorts to legal action to appoint receiver, manager
By Supriya Surendran / theedgemarkets.com | May 16, 2016 : 9:27 PM MYTKUALA LUMPUR (May 16): Scan Associates Bhd director Yeoh Eng Kong has resorted to the courts in a bid to get a receiver and manager appointed for the Guidance Note 3 (GN3) company.
Yeoh, a non-independent and non-executive director, is also a substantial shareholder of the company with a 7.79% stake.
In a filing to Bursa Malaysia today, Scan Associates said it was served with a Writ and Statement of Claim filed by Yeoh in the High Court here.
Yeoh has also served a Notice of Application on the company, and is seeking an ex parte (one party) order from the court to appoint a receiver and manager over the assets of the company.
The application is fixed for hearing tomorrow (May 17). Scan Associates said it has appointed solicitors to oppose the application.
The company has been embroiled in a boardroom tussle with Yong and former chief executive officer Datuk Norbik Bashah Idris that began late last year.
Scan Associates shares ended the day up one sen or 25% to five sen today for a market capitalisation of RM10 million.
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