All iretex staff, shareholders and people being manipulated by the culprit directors, bring parang and bottle, basket of rock, stone the bastards.
Send some minority shareholders go Bursa Malaysia find any culprits not doing their job giving shareholders exercise their rights. Capture the culprits skin them.
Likely the culprits will do like wintoni, another victim of their vandalism of Bursa Malaysia announcement system. Go skin them tomorrow in egm.
Egm goes on. Tomorrow 25 August. Court result showing the moron directors lost the ridiculous injunction.
The moron announce as if he decides disregard court or judge. Read the crap he announce and Bursa Malaysia blind let it abuse and confuse.
MATERIAL LITIGATION IRE-TEX CORPORATION BERHAD (IRETEX or the Company) Civil Suit No.: WA-22NCC-244-06/2017 (Suit 244) & Civil Suit No. WA-22NCC-262-07/2017 (Suit 262)
IRE-TEX CORPORATION BERHAD
Type Announcement Subject MATERIAL LITIGATION Description IRE-TEX CORPORATION BERHAD (IRETEX or the Company) Civil Suit No.: WA-22NCC-244-06/2017 (Suit 244) & Civil Suit No. WA-22NCC-262-07/2017 (Suit 262) Further to the Company's announcement dated 23 August 2017, the Court had today dismissed the Company's application in Enclosure 6 and had fixed 19 September 2017 to determine the issue of costs.
The Company's application was to inter alia restrain the exercise of the voting rights of the 5th to 10th Defendants.
This announcement is dated 24 August 2017.
Announcement Info Company Name IRE-TEX CORPORATION BERHAD Stock Name IRETEX Date Announced 24 Aug 2017 Category General Announcement for PLC Reference Number GA1-24082017-00103
Why in court iretex directors loss 22 aug egm and slap the judge appoint directors now? Appoint also next day after they loss another court to stop sharrholders from firing them. Another pee on judge face. Police should catch these gangsters.
Reported illegal appointments of Directors to both Bursa & SC. Hope they r can query the Directors on these matters & r not toothless !!! BTW, how to obtain the proxy form for the coming AGM as announced by those moron directors today ?
Likely real new board of directors will re announce real agm. The one they rush out is full of rats and criminals. Dirty bursa with sluts. But the culprits will still tease court and judge. Sure self humiliate one round before heading to hell.
New directors should report police jail the culprits. Heard 4 more culprits appointed yesterday after they lost in court. Judge dont let them appoint, they appoint themselves. Means they call judge stupid.
Another one. AGM. When will we get forms? All fired so AGM vote what? Also on purpose add 4 culprits then announce AGM. List of criminals acting in concert.
Jimmy Kong, Hamdan and Hizad, Donald Lim, etc.. are just hired guns for TPY.. stupid people used to rob companies... Wintoni, Protasco, RA, etc... Please la wake up, you want to feed your families by robbing companies... then pretend you are innocent and try to buy your way out of the mess... Rot in hell la TPY and the band of Thieves, should call Pirates
All the counters touched by this mf TPY all go down under and end up with legal tussles. Protasco, Nexgram, Wintoni, RA, Asdion, etc.. Since the people here are so smart, condemning everybody trying to fight TPY... what do u think is the real culprit...... Chicken Shit TPY....
Those who wish to fight please fight outside the company using your own resources. Please do not use the company's funds n resources to fight to protect your own interest which is not right n fair to small innocent shareholders !!!
And TPY walks happily with all the money he had taken... are u a moron or what? TPY wants to take control of the board and hired the mercenary directors to clean up and cover up and eventually close up the company... then he can blame the BoD fight and management... Mak Lin Kum and his friends are trying to fend off this last attack of TPY and the pirates.
Everyone also knows the mother of all F is chong ket pen. So taking drug is illegal, selling drug is legal? Killing people suicide bomb is justice? Judge is stupid court is whore house, mother is slut father is rapist. Commit suicide lor so great.
Did anyone get access to egm result yet? The bank robbers mak and gang still wearing bomb sitting in the bank. Where is the police? Coming in any time soon?
Price goes up already? Mak and gang out already? Sure do more danage kill whole street only pull bomb and die. Anyone go after Teh Eng Huat already? Police lock up fast.
To the neutral small shareholders, those who abuse the company's funds and resources to advance their own selfish agenda are the culprits !!! Put them away now to save the company !!!
OTHERS Ire-Tex Corporation Berhad ("IRETEX" or "the Company") Extraordinary General Meeting (EGM) called by Elite Cosmo Group Limited
IRE-TEX CORPORATION BERHAD
Type Announcement Subject OTHERS Description Ire-Tex Corporation Berhad ("IRETEX" or "the Company") Extraordinary General Meeting (EGM) called by Elite Cosmo Group Limited Further to the announcement yesterday regarding the dismissal of the company's application to restrain the EGM to be held on 25 August 2017, the Company would like to announce that:
1. Elite Cosmo Group Ltd attempted to convene the EGM at 10.18 am this morning at the 1st Floor, Cheng Yi Auditorium, The Kuala Lumpur and Selangor Chinese Assembly Hall, No.1, Jalan Maharajalela, Kuala Lumpur.
2. No proper notice of the EGM was given, hence the EGM is invalid. The EGM Notice was not given in accordance with Article 62 of the Company's Articles of Association.
3. No attempt was made by Elite Cosmo Group Lts to observe and comply with the Articles of Association of the Company hence the EGM is invalid. In this regard, the convenor of the meeting did not observe Article 71 and Article 67.
4. No resolutions were competently moved and no resolutions were passed as the EGM is invalid. Notwithstanding that, Messrs Kanesalingam had written to the Company Secretary claiming that the EGM passed all the resolutions proposed thereat, i.e. the removal of Dato' Seri Shariff Omar, Mak Lin Kum, Chin Wui Choong and Ahmad Amryn. In addition, Messrs Kanesalingam also claims that the newly appointed directors have been removed, i.e. En Saharun Nizam bin Saharan, En Mohd Fahami bin Mohamed, Mr Chin Peng Wai and En Mohd Mahyuddin bin Zainal. Besides the EGM not being validly called, the newly appointed directors cannot be removed without special notice of the intention to remove them being given in accordance with Section 206 and Section 322 of the Companies Act, 2016. Any resolution purporting to remove them is not effective in any event.
5. Messrs Kanesalingam has also contended that En Hamdan and YM Raja Hizad have been appointed. The Company's position is that the EGM is invalid and hence, no valid appointment of any persons as directors took place.
6. The attempted EGM does not affect the continuation of Suit 244.
KUALA LUMPUR (Aug 25): A substantial shareholder of Ire-tex Corporation Bhd has questioned the validity of the “late night” appointment of four new directors by the company yesterday.
Elite Cosmo Group Ltd said it is taking legal advice on the appointment of Chin Peng Wai, Saharun Nizam Saharan, Mohd Mahyudin Zainal and Mohd Fahami Mohamed to the board.
Elite Cosmo and another shareholder, Tan Yeang Tze, contended in a press statement today that “the four persons were never validly appointed as directors in the first place.”
Ire-tex, a loss-making protective packaging product maker, has been the subject of a boardroom tussle for several months now.
Previously, Elite Cosmo and Tan had requisitioned Ire-tex to call for an extraordinary general meeting (EGM) to remove four existing directors and appoint two new directors. The board, however, did not convene the EGM and the requisitionists then proceeded to issue a notice of EGM dated June 23.
“The company brought proceedings against us and various other people claiming that we were persons acting in concert in contravention of the Capital Markets and Services Act 2007. The company tried to injunct our voting rights and our right as members to call the said EGM,” said Elite Cosmo and Tan.
Another two Ire-tex shareholders, Teh Eng Huat and Khoo Hon Sniah, brought a similar suit claiming broadly identical relief, and also tried to get an injunction on similar terms against Elite Cosmo and Tan.
The High Court fixed Aug 23 as the hearing date for the applications, and Elite Cosmo and Tan agreed to adjourn the EGM they had called for, to a date after that hearing date.
“We therefore issued a fresh notice of adjourned EGM dated 17th July 2017, calling for the EGM today, 25th August 2017,” they said.
However, Ire-tex announced on Aug 7 that it would be calling an EGM on Aug 22 — the eve of the hearing of its own injunction application — for the purpose of appointing Chin, Saharun Nizam, Mohd Mahyudin and Mohd Fahami as new directors.
On Aug 21, the High Court granted Elite Cosmo, Tan and other applicants an injunction against the holding of the Aug 22 EGM, until the disposal of the Ire-tex’s injunction application.
Yesterday, the court dismissed the two injunction applications against Elite Cosmo, Tan and various other shareholders.
But later in the day, Ire-tax announced the appointment of the same four persons — Chin, Saharun Nizam, Mohd Mahyudin and Mohd Fahami — as directors of Ire-tex.
Meanwhile, at the EGM called for by Elite Cosmo and Tan held today, Raja Hizad Raja Kamarulzaman and Hamdan Mohd Nor were appointed as directors.
Four others — Mak Lin Kum, Chin Wui Choong, Datuk Seri Mohd Shariff Omar and Ahmad Amryn Abd Malek — were removed as directors.
Shareholders who attended today’s meeting also removed Chin, Saharun Nizam, Mohd Mahyudin and Mohd Fahami as directors, said Elite Cosmo and Tan.
Loser lost and held on Bursa announcement asking company secretary Nicholas Tan Tong Lang breaks the law follow the culprit abuse the system. Shame and cheapskate.
With such poor financial and business performance over the years resulting in the share price at almost all time low, the directors should have also resigned long long ago !!! Tak tau malu !!!
Ire-Tex Corp Bhd ex directors on 25Aug announce AGM & seek approval for RM4m fees. Cosec resigned. Author: lawyerorrobber | Publish date: Mon, 28 Aug 2017, 06:37 PM
28 August 2017 - Kulim, Kedah, packaging company Ire-Tex Corporation Berhad today announced the company secretary Tan Tong Lang from Boardroom has resigned.
Earlier on last Friday, 25 August 2017, Ire-Tex Corporation Bhd had completed shareholders' requisited EGM. The Edge newspaper announced the result where 2 new directors were appointed, while 4 former directors were removed, together with 4 "late-night" appointed directors were also dismissed. The EGM originally scheduled for 12 July 2017 was earlier adjourned by the court, while former directors who tried to place an injunction on shareholders preventing them from voting were dismissed by the court, hence the 25 August 2017 EGM is endorsed and approved by court and carried.
25 August 2017 EGM carried. Cosec hijack Bursa System for Announcement?
According to 25 August 2017 EGM, apparently the shareholders had complied to court orders and completed the EGM. However, the company secretary Tan Tong Lang for some reason, under pressure not to carry out his duty, and did not announce EGM result the same day. The company secretary went on further announced un-authorized and misleading announcement of AGM, carrying 4 potentially illegally appinted directors’ names which the court had on 21 August 2017 "dismissed" their appointment by the former directors EGM attempt on 22 August 2017. Yet, a day before 25 August 2017 EGM, the former directors appointed the 4 directors, a slap to the judge face and potential contempt of court order.
Removed Directors on 25 Aug 2017 announced AGM instead - Trying to Legalize RM4m Taken?
Such menace has finally proven monetary driven, and potential wrongdoing, as evidence from the AGM announcement. The former directors seek approval for some jaw dropping RM2mil for year 2016 and another RM2mil for year 2017 "director fees and compensations".
“The company was told in the market unable to pay staffs and employees salaries and fees, including truck drivers which have kids and family to feed, while the board of directors "taken" RM4 million as their fees and compensations. How do they expect shareholders to approve for what they did?”, commented a news reporter.
The former directors, count Mak Lin Kum, Felix Chin Wui Choong, Shariff Omar and Ahmad Amryn, were voted out by shareholders on 25 August 2017 EGM. The other 4 late-night appointed directors were also removed.
Two new directors Raja Hizad and Hamdan Mohd Nor were appointed as directors. The board existing 2 directors were Donald Yap Tatt Keat and Jimmy Kong Hon Kay, remain as directors on the board.
In view of such events above, it does not surprise the market when company secretary Nicholas Tan Tong Lang resigned. Shareholders shall look carefully what they should vote in the coming AGM. Looking at the ridiculous resolution in the announced AGM, market won't be surprise if the shareholders already knew the result before hand.
On Friday, militants from the Arakan Rohingya Salvation Army attacked about 25 police posts in the Myanmar’s Rahkine state. As the government security’s took retaliatory action, thousands, both Muslim and Buddhist civilians from the northern part of Rakhine state fled the area towards the border with Bangladesh. It is believed that over 100 people have died since the Friday attack. Today we ask is the government of Aung San Suu Kyi has lost the initiative on the managing the political problem of the Rohingya minority, and if the international community will remain mute in the face of this recent upsurge of violence.
Also on Friday, Iretex Robbery Gang lost EGM, attacked company secretary and kidnap Tan Tong Lang on duress by stolen pass code for Bursa Malaysia announcement. The culprits lead by law breaker Mak Lin Kum forced company secretary to announce AGM wanting to pay himself RM2.2million plus RM2 million directors fees. As the polis took retaliatory action, together with thousands, both shareholders and staffs from Iretex march towards the Kulim factory wanting to skin the culprit directors. CEO Nizam and others are wanted alive. It is believed that over 100 staffs will march towards the factory on 29-31 August 2017 wanting their independance from the criminal old board of directors. Today the staffs ask Bursa Malaysia and polis to step in capturing the criminals and robbers holding Kulim factory and documents hostage. The old board have lost their dignity when their real intention and motive is to rob for themselves at the expense of staffs and shareholders was published in AGM notice. Authorities were informed to step in and haul in the criminals for further investigation.
rUp there. You did not name all the criminals. All pretend hero but actually devil of all devil aka ss holes. Anyone collude and works with Mak Lin Kum and Felix Chin Wui Choong are equally guilty. Shoot on sight.
Shariff Omar, Ahmad Amryn, The 2 cheer leaders and moron invited by Mak Lin Kum from Wintoni to iretex.
The betrayal dog Alfred Gan.
Bunch of cockroach muka tembok Cina. Count Chin, Saharun Nizam, Mohd Mahyudin and Mohd Fahami in the list, all culprits refer from Mak Lin Kum.
Anyone missed name here, still shoot on sight. Capture and jail all rather than missed any cockroach eggs.
5 September 2017 - Ire-Tex Corporation Bhd, the industrial products Penang based packaging company with the main factory in Kulim, Kedah had announced quarter 2 2017 results. The company suffered an RM4.319m loss on top of RM13.814m revenue. Year to year quarterly result saw 47.82% drop in revenue, the huge plunge in business, as well as net consumption of company resources, with RM20m collection from Trade Receivables, which paid off only RM12.1m Trade Payables. Close to RM8m vanished from the book during the 6 months period from January 2017 - June 2017. Historically, the worst performance quarter for more than 6 consecutive quarters.
The market is concerned how the current management with obviously no ownership nor entrepreneurship experience would carry forward the future of the company after showing such devastating quarterly results, while shareholders had repeatedly being denied their rights to vote or to decide for their own company business directions.
Where did the (RM8m) money go?
The company literally "expensed" out by leeching the golden geese living on Trade Receivables, and announced a loss of RM4.319m in a 3 months quarter. Despite the weak financial performance, the announcement of the coming Annual General Meeting to be held on 19 September 2017 is rather short noticed and bizarre when shareholders found out that despite having a business depression and depleting company resources, the board of directors had requested shareholders approval for the payment of "Directors’ fees and other benefits" payable of up to RM2.273 million to the Directors of the Company for the financial year ended 31 December 2016 (Ordinary Resolution 9), and "approval in advance" the payment of Directors’ fees and other benefits payable of up to RM2.0 million to the Directors of the Company for the financial year ending 31 December 2017 (Ordinary Resolution 10). Exclude "other expenses" paid through operating expenses, the market is concerned what "benefits" the board of directors is trying to imply and justify while delivering a cut throat result?
According to latest quarterly report, a straight forward financial analysis had found out basically Ire-Tex Corp Bhd current management and board of directors had vanished RM8m off the balance sheet by costing out RM4.319m (resulted in a loss) and paid directors benefits of RM2.273m and RM2m, the total happens to be a whopping RM8.592m rip off from shareholders.
Shareholders would be very concerned if the management knew what the board of directors is doing or intended to do, especially pertaining to the jaw dropping "fees paid to directors", and how shall the board be answerable to shareholders when comes to facing their fiduciary and statutory duties. The coming Ire-Tex AGM would be a financial market credibility test if shareholders shall decide for their own future or other wise perhaps it's time to seriously consider a re-write of company act to ratify the glitches in the financial system.
Kris. Now we know who is the culprit assissting the criminals. Company secretary Tan Tong Lang from Boardroom. Did not announce EGM yet did not submit proxy forms.
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....
PoorStaff
8 posts
Posted by PoorStaff > 2017-08-24 20:12 | Report Abuse
Tomorrow 25 August EGM goes on.
http://www.theedgemarkets.com/article/court-grants-injunction-stopping-iretex-holding-egm
All iretex staff, shareholders and people being manipulated by the culprit directors, bring parang and bottle, basket of rock, stone the bastards.
Send some minority shareholders go Bursa Malaysia find any culprits not doing their job giving shareholders exercise their rights. Capture the culprits skin them.
Likely the culprits will do like wintoni, another victim of their vandalism of Bursa Malaysia announcement system. Go skin them tomorrow in egm.