A legal action was commenced on 7 April 2008 in the Kuala Lumpur High Court (Commercial Division) by Multi-Code Electronics Industries (M) Berhad and its subsidiary, Plasmet Industries (M) Sdn Bhd (collectively referred to as “the Plaintiffs”) against the abovementioned Defendants for inter alia, fraud, conspiracy to defraud, knowing assistance and knowing receipt and against the 1st, 2nd and 3rd Defendants for breach of fiduciary and fidelity duties owed to the Plaintiffs and to recover the sum of RM44,188,262.82 paid out of the Plaintiffs’ funds. The Plaintiffs had on 31 July 2012 obtained Judgement against all the above Defendants for various judgement sums totalling RM44,188,262.82, with pre-judgement and post-judgement interest plus costs, except for the 3rd Defendant against whom the suit had been dismissed without costs and the 12th Defendant against which the suit had been withdrawn. The 1st Defendant had passed away on 27 August 2012. On 1 August 2013, the Plaintiffs registered the above Judgement against the personal representatives of the 1st Defendant in the Singapore High Court and the order was successfully served. The Plaintiffs had successfully obtained an order on 7 January 2014 to partially lift the Singapore Mareva Injunction in Singapore High Court proceedings under Suit No. 258 of 2008/N (which was stayed) to allow the Plaintiffs to enforce the above Judgement against the 1st Defendant’s assets in Singapore, and to have monies held by the stakeholders for the 1st Defendant released to the Plaintiffs. The stakeholders has on 30 January 2014 released a banker cheque of SGD2,076,086-04 to the Plaintiffs’ solicitors in Singapore.
I bought last year after x, maybe I am very bad luck to read an article saying Multico very good. The day I bought, every day falling........ keep on falling....... very black. last year, any share you bought sure now gains but why only you are falling down.
It will turn from Rubbish to diamond soon, as this is an un-polish diamond... buy as much as possible and waiting to pocket a lot of $$$ in time to come...
the director is keeping to collect this share, so he push down and collect all. q repot will come out this months, it sure has more than 6 million profit . 6 stars counter.
6 million profit? how can you be so sure? last quarter only 2 million.. other income was one off income from law suit. i think the profit will be about 2 million+-.
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....
Chia Wei Jian
9 posts
Posted by Chia Wei Jian > 2013-12-27 10:40 | Report Abuse
not much growth for this counter, but court case makes it cash rich.