NWP, subsidiaries take legal action against MD and director


KUALA LUMPUR: NWP Holdings Bhd and its wholly owned subsidiaries NWP O&M Sdn Bhd, NWP Aquatech Sdn Bhd and NWP Builder Sdn Bhd (plaintiffs) have filed legal action against its managing director Datuk Seri Kee Soon Ling and impartial non-executive director Yew Onn Chong (defendants) over alleged fraudulent transactions undertaken by them from 2016 to 2021.

In a submitting with Bursa Malaysia right this moment, NWP stated the 4 corporations had filed a writ and assertion of declare on the High Court by way of solicitors Messrs Chong + Kheng Hoe after the brand new administration found a

sequence of alleged fraudulent transactions undertaken by Kee and Yew from 2016 to 2021, which the group claimed had brought on NWP and its subsidiaries to endure loss and damages.

NWP additionally claimed that the defendants had permitted and/or authorised the alleged fraudulent transactions to be recorded and captured within the firm’s consolidated monetary statements (protecting its monetary 12 months finish from 2016 to 2021) and the identical was submitted and introduced to Bursa Malaysia.

Under the lawsuit, NWP and its subsidiaries are searching for, amongst others, particular damages of RM6.5 million from the defendants in addition to an order to bar the defendants from being a director of the corporate for 5 years and prohibit and/or restrain them from exercising the voting rights connected to the odd shares of the corporate.

NWP stated the group and its subsidiary corporations had filed an utility for an interim order against the defendants.

Meanwhile, in a separate Bursa Malaysia submitting, NWP introduced the corporate had suspended all the manager features of Kee and Yew efficient Jan 13, 2022. – Bernama

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