TAI HEAN LENG @ TEK HEAN LENG vs NEW FUTURE CAPITAL SDN BHD

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2018 MarsdenLR 221

HIGH COURT MALAYA KUALA LUMPUR
TAI HEAN LENG @ TEK HEAN LENG – Appellant
Versus
NEW FUTURE CAPITAL SDN BHD – Respondent

Petitioner Advocates:Kelvin Seet Wan Nam,Ryan Chu Soon Wei ,Respondent Advocate: Steven Thiru,Gregory Das,Muhammad Zarqali Mohd Noor

Table of Content
1. petition to wind up due to breakdown among shareholders. (Para 1 , 2 , 3 , 4)
2. mutual trust has irretrievably broken down between the parties. (Para 10 , 19)
3. requirement of mutual trust and confidence for company operations. (Para 21 , 22 , 26 , 39)
4. court reasoning based on breakdown of relationships affects company viability. (Para 24 , 27 , 32)
5. legal basis for family company winding based on relational breakdown. (Para 40 , 41 , 64)
6. winding up justified due to deadlock and non-compliance with statutory duties. (Para 51 , 56)

[1] This is a petition by the Petitioner to wind up the Respondent, New Future Capital Sdn Bhd ("NFC") under s 465(1)(h) of the Companies Act 2016 on the 'just and equitable' ground. I have allowed the petition. These are the full reasons for my decision.

Salient Background Facts

[2] The late Tai Chet Siang, the late Datuk Tai E King ("DTEK"), the late Tai Ho Seng and the late Tai Swee Kian are brothers ("Brothers"). The Brothers are the first generation in the Tai family and each of them held shares and directorship in various family companies (collectively as the "Soon Seng Group").

[3] Safety Capital ("Safety Capital") is a family

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2018 MarsdenLR 221

HIGH COURT MALAYA KUALA LUMPURTAI HEAN LENG @ TEK HEAN LENG – AppellantVersusNEW FUTURE CAPITAL SDN BHD – Respondent

Cases Referred (2)

HIGH COURT MALAYA KUALA LUMPUR
TAI HEAN LENG @ TEK HEAN LENG – Appellant
Versus
NEW FUTURE CAPITAL SDN BHD – Respondent