1. ) Crest One (M) Sdn Bhd 2. ) Ng Kar Choon @ Philip Ng v 1. ) Ng Kar Kui 2. ) Ng Xu Long

wa-22ncvc-683-12-2023 High Court (Mahkamah Tinggi) 7 May 2026 • WA-22NCvC-683-12/2023 • 41 min read

14 cases cited (0 SG, 14 foreign)

Catchwords

• Company Law — Separate legal personality — Corporate ownership of property — Torrens system — Indefeasibility of title — Whether property registered in company’s name belonged beneficially to director — Corporate form vs underlying commercial reality. • Equity — Resulting trust — Presumption where purchase money provided by one party but property registered in another’s name — Whether Crest One held property on trust for director — Westdeutsche Landesbank Girozentrale v Islington LBC [1996] AC 669 applied — Loo Hon Kong v Loo Kim Lim [2004] 4 CLJ 1 referred. • Directors — Fiduciary duties — Duty to act in good faith and in best interests of company — Duty to avoid conflict of interest — Diversion of sale proceeds to personal account — Concealment of transaction — Breach of ss 218, 221 Companies Act 2016. • Evidence — Credibility of witnesses — Inconsistent testimony — Court entitled to reject unreliable evidence — Mforce Bike Holdings Sdn Bhd v Allianz General Insurance Co (M) Bhd [2026] MLJU 519 cited. • Family Business — Informal arrangements — Shareholding without consideration — Use of shelf company — Blurred lines between personal and corporate assets — Whether corporate veil should be pierced. • Fraud and Misrepresentation — Forged signature on confirmation of balance — Attempt to regularise accounts — Opening of joint bank account — Concealment of proceeds — Implication of second defendant. • Remedies — Recovery of sale proceeds — Declaratory relief — Damages for misappropriation — Whether second defendant liable for aiding and abetting concealment.

Practice Areas

• Company Law • Evidence • Remedies

Judges (1)

Moh Kok Wai Delivered

Counsel (6)

Kuah, Lim, Chin & Ooi Firm Phee, Chen & Ung Firm Alex Chong Counsel Defendant Muhammad Syakir Haznal Counsel Defendant Ng Giap Seng Counsel Plaintiff Ung Chirt Kye Counsel Plaintiff

Parties (4)

Crest One Sdn Bhd Plaintiff Ng Kar Choon @ Philip Ng Plaintiff Ng Kar Kui Defendant Ng Xu Long Defendant

Statutes Cited

Companies Act 2016 (Cap 777)

s 20

Evidence Act 1950 (Cap 56)

Cases Cited (14)

UK (6)

[1891] 2 QB 534 [1920] AC 194 [1967] 1 AC 569 [1995] 4 All ER 562 [1996] 2 WLR 802 [1996] AC 669

MY (8)

[1995] 4 CLJ 153 [2004] 4 CLJ 1 [2008] 3 CLJ 215 [2008] MLJU 398 [2016] 9 CLJ 73 [2017] 2 MLJ 167 [2024] MLJU 3232 [2026] MLJU 519

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-22ncvc-683-12-2023)