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HIGH COURT MALAYA KUALA LUMPUR
RAHYA TRADING SDN BHD – Appellant
Versus
TONG KHIN COMPANY SDN BHD & ANOR – Respondent
The part of the document that discusses the transfer of shares as an act of oppression is found in the plaintiff's submission, specifically where they state that the second defendant thwarted the plaintiff's attempt to sell its shares to other parties. This conduct is characterized as an act of oppression and disregard for the plaintiff's interests. The relevant excerpt is:
"the second defendant had thwarted even the attempt to sell the plaintiff's shares to persons or other companies other than the existing shareholders and immediate family of persons registered as shareholders" (!) .
This indicates that preventing the shareholder from transferring or selling their shares to third parties is considered an act of oppressive conduct under the context of minority oppression.
| Table of Content |
|---|
| 1. minority oppression claim outlined. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8) |
| 2. plaintiff's submission on oppression. (Para 10 , 11 , 12 , 13 , 14 , 15 , 16) |
| 3. defendants argue for majority interests. (Para 17 , 18 , 19 , 20) |
[1] This case relates to allegations of minority oppression where the plaintiff as minority shareholder says it is being oppressed and its interest is being disregarded by the second defendant the majority shareholder in the first defendant ('company') and therefore seeks an order from this court pursuant to the oftquoted s 181 of the Companies Act 1965 .
[2] At the outset, it is most appropriate to state that the above provision reads:
(1) Any member or holder of a debenture of a company or, in the case of a declared company under Part IX, the Minister, may apply to the Courts for an order under this section on the ground:
(a) that the affairs of the company are being conducted or the powers of the directors are being exercised in a manner oppressive to one or more of the members or holders of debentures including himself or in disregard of his or their interest as members, shareholders or holders of debentures of the company; or
(b) that some act of
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