JUDGMENT

On August 19, 1995 I dismissed with costs the originating petition of Chloride Eastern Industries Pte. Ltd. ("Petitioner") against Premium Vegetable Oils Sdn. Bhd. ("Company") and indicated that I would give my reasons in writing later. In the meantime, the Petitioner has filed an appeal against my said order. [2]

The originating petition is filed under section 181 of the Companies Act, 1965 ('the Act'). Section 181(1) and (2) of the Act reads -

"181. (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 Court 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 interests as members, shareholders or holders of debentures of the company; or

(b) that some act of the company has been done or is threatened or that some resolution of the members, holders of debentures or any class of them has been passed or is proposed which unfairly discriminates against or is [3] other