JUDGMENT

Ahmad Fairuz Zainol Abidin J:

Introduction

[1]Vide enclosure 7, the 1st and 2nd Defendants prayed for all proceedings in the present suit be stayed pursuant to O 3 r 5 and O 92 r 4 of the Rules of 2012 pending the disposal of their appeal to the Court of Appeal against an order dated 9 February 2021 ("Leave Order") obtained in Kuala Lumpur Originating Summons No.: WA-24NCC-359-08/2020.

[2] After hearing parties, this Court dismissed the application. The reasons for this Court's decision are outlined below.

Background facts

[3] The 1st and 2nd Defendants are the shareholders and directors of the Plaintiff company ("the Company"). They collectively own a 65% stake in the Company. The other shareholders are Goh Swee Boh @ Goh Cheng Kin ("GCK") and Goh Tze Chien ("GTC")

[4] This present action is a derivative action. It was filed in the name of the Company pursuant to the Leave Order obtained by GCK and GTC in Originating Summons No. WA-24NCC-359-08-2020 ("Leave Application") under s 347 and s 348 of the Companies Act 2016 ("the Act").

[5] The Learned Judicial Commissioner allowed the Leave Application on 9 February 2021 which resulted in the Leave Order. In granting the Leave Orde