so are you telling me TPY created so many corporate exercise like sensorlink, angkasa, cyberjaya, Fiji ... and just want to keep the price at 10 sen? What for? No need brainstorm to create all these exercise ? sure goreng lah... but don't know when only. Just hold lah....
Company says duo did not provide any evidence at board meeting to back their allegations
PETALING JAYA: Protasco Bhd yesterday rebutted a statement made by embattled director Tey Por Yee last week, saying that its board of directors was not offered any evidence pertaining to allegations against managing director Datuk Seri Chong Ket Pen, although it was requested by the chairman.
Protasco said in a statement yesterday that a board meeting had originally been called at the request of Tey and another director, Ooi Kock Aun, via a notice dated Oct 23. The meeting was then set for Oct 31, as there would have been a lack of quorum if held on Oct 27 as requested by Tey and Ooi.
It said the notice from Tey and Ooi was a basic request to call a board meeting, and did not refer to any alleged wrongdoing by Chong or any specific matters to be put on the agenda.
Protasco said its chairman Tan Sri Hadenan A. Jalil, via a letter dated Oct 24, requested more details for the agenda, but neither Tey nor Ooi responded.
“At the board meeting itself, Tey and Ooi did not present evidence of their allegations, contrary to their recent statements to the media.
“Tey, who owns and controls Kingdom Seekers Ventures Sdn Bhd, also did not present to the board any evidence of these accusations prior to the company’s legal suit announced on Sept 22, or prior to filing his own derivative action in court on Oct 28,” Protasco said.
In its statement, Protasco clarified that it will hold two separate EGMs, one on Nov 26 and the other on Nov 27.
The first, on Nov 26, concerns a proposal to remove Tey and Ooi as directors of the company and the second, on Nov 28, to remove Chong as director and any other person appointed as director before the conclusion of the EGM.
Protasco stated that the board resolved to take legal action against Tey and Ooi after receiving the findings of extensive and meticulous investigations undertaken over the past few months.
“The company is confident that it will succeed in its action and claims in the Kuala Lumpur High Court against PT Anglo Slavic Utama and its directors, namely Tey and Ooi,” it said.
Protasco is claiming a refund of the purchase price paid under the restated sale and purchase agreement dated Jan 28, 2014, as well as damages for breach of contract.
Its claim against Tey and Ooi is for damages arising from the breach of their fiduciary and statutory duties including the duty to disclose their interest in the transaction, conspiracy to defraud Protasco and the making of secret profit.
“The board will continue to act in the best interests of the company and minority shareholders as it has always done,” it said.
After truth with evidence out, Yesterday announcement still in denial. Chong did not show us what evidence he has on his two victims. So what is the evidence that the two copy are Indonesian? Then Chong himself people shown clear evidence openly he says never see evidence. Blind until insult everyone intelligence. Someone should call ambulance straight mental illness hospital.
The court case is actually a Chinese Opera.........Full of acting...with heavy make up......This is to steer away punters......When the moment come.....BOOOOOMMMM....to the sky.....Not difficult to read......Some thing is cooking...BIG...
Bro Bs1688, still a question mark! But if company realise the promise, price should be able to going up before announcement. Hopefully will announce at this December quarterly report. Then we can get it in early of the year 2015.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
gyaphong
254 posts
Posted by gyaphong > 2014-11-05 17:20 | Report Abuse
purpose? create black hole to trap bees?