HIGH COURT MALAYA KUALA LUMPUR
LIM KAH KENG – Appellant
Versus
TENG TAIM SING & ORS – Respondent
| Table of Content |
|---|
| 1. plaintiff's minority interest faced oppression. (Para 1 , 2 , 3) |
| 2. impact of companies act section 346. (Para 5 , 7 , 8) |
| 3. judicial discretion in oppression cases. (Para 31 , 32 , 80) |
| 4. rights of minority shareholders to buyout. (Para 40 , 42 , 76 , 84) |
Introduction
[1] The Plaintiff owns 24% of the shares of Gallo (Sri Petaling) Sdn Bhd ("D4") whilst the other three Defendants own the majority. Teng Taim Sing ("D1") and Gan Chee Lin ("D2") own 10% each whilst Sea Films Sdn Bhd ("D3") holds 51%. The remainder 5% is held by one Wong See Kie who is not involved in these proceedings.
[2] D4 was incorporated in April 2017 with the primary purpose of operating a wine bar called the Gallo Wine Bar in Sri Petaling which had then commenced business operations in August 2017. The Plaintiff, D1 and D2 were the only appointed Directors of D4. The Plaintiff contends that it was the intention and agreed amongst the shareholders that he would have clear management powers within the new venture set up given his expertise in running his already owned and established "Gallo Wine Bar" in Taman Desa. The evidence also reveals that although both bars were separate i
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