JUDGMENT

Atan Mustaffa Yussof Ahmad J:

Introduction

[1] Before the court is an originating summons filed by the Plaintiff under s 346 of the Companies Act 2016 seeking a declaration that the 1st and 2nd Defendants have conducted the affairs of the 3rd Defendant in an oppressive manner and in disregard of the Plaintiff's interests as a minority shareholder of the 3rd Defendant. The Plaintiff also seeks a buy-out order directing the 1st and 2nd Defendants to purchase his 30% shareholding in the 3rd Defendant company at a fair value to be determined by an independent valuer.

Background Facts

[2] The 3rd Defendant, Enpro Solutions Sdn Bhd ("ESSB"), is a company that provides lightning protection systems to ensure safety of structures against lightning strikes. The 1st Defendant, Lee Seik Fun ("D1"), and the 2nd Defendant, Lim Leong Chuan ("D2"), are directors and majority shareholders of ESSB, holding 40% and 30% of shares respectively. The Plaintiff, Koay Peng Soon, is also a director and holds the remaining 30% of shares in ESSB.

[3] The shareholding structure of ESSB is as follows:

a) D1: 40%

b) D2: 30%

c) Plaintiff: 30%

[4] The Plaintiff joined ESSB as a director and shareholder on 5 May 202