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.
Stock: [IQZAN]: IQZAN HOLDING BERHAD
2017-08-29 11:02 | Report Abuse
按著股東來搶劫，明目張膽搶了RM4 million還按著股東大會自己批准自己，Bursa 吃屎狗還是大春袋？邊格company secretary 前世欠咒？
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.
(Note1: refers to http://www.theedgemarkets.com/article/elite-cosmo-questions-validity-late-night-board-appointments-iretex)
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.
(note2: refers to http://www.bursamalaysia.com/market/listed-companies/company-announcements/5526053)
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.
(Note1: refers to http://www.theedgemarkets.com/article/elite-cosmo-questions-validity-late-night-board-appointments-iretex)
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.
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