V.S. Industry Berhad v 1. ) Lim Chang Huat 2. ) Lim Chee Kon 3. ) Chow Chun Pooi @ Chow Chan Leong 4. ) NEP Holdings (Malaysia) Berhad

wa-24ncc-400-07-2023 High Court (Mahkamah Tinggi) 14 January 2025 • WA-24NCC-400-07/2023 • 75 min read

27 cases cited (5 SG, 22 foreign)

Catchwords

For the OS [Enclosure 1], I make the following orders-i. a declaration that the 1st, 2nd and 3rd defendants have conducted and/or are conducting the affairs of NEP and/or are exercising their powers as directors in a manner oppressive to and/or unfairly prejudicing the plaintiff and/or in disregard to the plaintiff’s interest as a member of NEP;- ii. NEP be wound up;-iii.Datuk Ooi Woon Chee (Approval No. 01891/03/2024 P) and Mr Wong Ching Yong (Approval No. 01296/07/2025 P) be appointed as joint and several liquidators of NEP;-iv.The 1st, 2nd and 3rd defendants to pay jointly and severally costs of RM 80,000 to the plaintiff subject to allocatur.

Judges (1)

Leong Wai Hong Delivered

Parties (5)

NEP Holdings Berhad Respondent V.S. INDUSTRY BERHAD Applicant Chow Chun Pooi @ Chow Chan Leong Respondent Lim Chang Huat Respondent Lim Chee Kon Respondent

Statutes Cited

Australian Companies Act

s 186

Companies Act 1965 (Cap 777)

s 132 s 181

Companies Act 2016 (Cap 777)

s 346

Penal Code (Cap 574)

s 409

United Kingdom Companies Act

s 210

Cases Cited (27)

SLR (5)

[1991] 1 SLR(R) 795 [1995] 2 SLR(R) 304 [1999] 1 SLR 337 [1999] 1 SLR(R) 337 [2006] 4 SLR(R) 745

UK (6)

[1959] 1 WLR 62 [1971] 1 WLR 1042 [2000] UKHL 65 [2002] 2 AC 1 [2020] UKSC 31 [2021] AC 39

MY (16)

[1968] 1 MLJ 97 [1978] 2 MLJ 227 [1988] 3 MLJ 209 [1991] 3 MLJ 137 [1994] 1 CLJ 157 [2003] 4 MLJ 729 [2008] 8 MLJ 45031 [2010] 6 CLJ 721 [2012] 5 MLJ 176 [2013] 10 CLJ 347 [2015] 7 CLJ 561 [2016] 5 MLJ 9130 [2017] MLJU 1982 [2020] MLJU 1902 [2021] 3 MLJ 549 [2023] 8 MLJ 81

Judgment

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Source: eJudgment (wa-24ncc-400-07-2023)