Jamhirah Ali JC:

GROUNDS OF JUDGEMENT

INTRODUCTION

[1]The Plaintiff, a member of the 5^th Defendant, commenced an action for minority oppression pursuant to Section 346Companies Act 2016^st, 2^nd, 3^rd and 4^th Defendants purchase all the Plaintiffs shares in the 5^th Defendant or that the 5^th Defendant be wound up.

[2]The issue before this Court is whether there was oppression of minority shareholders as complained of by the Plaintiff and if the answer to this issue is in the affirmative, then this Court is to decide what are the suitable remedies.

BRIEF FACTS

[3]Sometime in 1984, the 1^st and 2^nd Defendants incorporated the 5^th Defendant, a private limited company. Pursuant to the Share Sale Agreement (SSA) dated 15.08.2018, the Plaintiff agreed to buy the 1^st Defendant’s shares in the 5^th Defendant, which represented 14.28%, and subsequently, the Plaintiff acquired another 10.72% shares in the 5^th Defendant and increased his shareholding to a total of 25%.

[4]As such, the Plaintiff is a minority shareholder of the 5^th Defendant holding 500,000 shares representing 25% of the total issued and paid-up share capital of RM2,000,000.00. While the 1^st, 2^nd and 4^th Defendants are the majority shareho