NEWSFLASH  NEWSFLASH  NEWSFLASH  NEWSFLASH  NEWSFLASH  NEWSFLASH 

Another minority shareholder of Lii Hen Industries Berhad ("Lii Hen") had filed an official complaint to the Head Office of Suruhanjaya Syarikat Malaysia ("SSM") at Menara SSM@Central on July 5, 2013 with regard to the 19th Annual General Meeting 2012 of Lii Hen ("AGM 2012") that was held on June 25, 2013.

This is the second complaint to the SSM by a minority shareholder of Lii Hen for the alleged breaches of certain sections in the Companies Act 1965. An earlier report was believed to have been filed with the SSM Negeri Sembilan by a separate shareholder as soon as the AGM 2012 was concluded.

Contrary to a scant view that it was only a minor fracas as appeared in a video footage of Youtube (English) or Youtube Mandarin, this second report alleges the presence of non-shareholders as well as non-members in the AGM 2012 whom were allowed to partake in the voting and proceeding of the general meeting.

In typical Lii Hen's corporate culture in handling material information, no official word or announcement has since been released that it is under investigation by the SSM although sources told us that SSM had initiated the contact with Lii Hen not long after the complaint was lodged.

Lii Hen is now embroiled in a legal suit with a minority shareholder in the High Court of Malaya at Muar over the same said AGM 2012. The individual shareholder is seeking a court's declaration that the said AGM 2012 be annulled and a new general meeting be held.

The Hearing of this case is now fixed on December 4, 18, 19 and 20, 2013 as announced to Bursa Malaysia on September 25, 2013 . In an unusual move by the High Court to have allocated 4 full days to try this case, speaks volume of the validity, intensity and severity of the said claim.

Pending the final outcome of the active SSM investigation and the legal suit in the court of law, a calamity to Lii Hen shares price may be triggered in the event it is ruled not in the favour of Lii Hen. Investors discretion in the buying and selling of Lii Hen shares are therefore advised.

Like us on Facebook and follow us on Twitter

September 27, 2013