HIGH COURT MALAYA PULAU PINANG
TEOH AH CHA @ TEOH SIK SEN & ORS – Appellant
Versus
HUATSON SDN BHD & ORS – Respondent
[1] The facts of the Plaintiffs' cause of action could be summarized as follows:-
(i) That the purported transfer of shares of 158,181 shares of the 1st Defendant, being 24% of total shareholding belonging to the late Teoh Ah Ngau ("the Deceased") to the 2nd Defendant, had contained elements of fraud;
(ii) That there was no consideration given in exchange for the transfer of the said 158,181 shares;
(iii) That the Deceased died intestate wherein the distribution and division of his assets was issued and executed by Amanah Raya Berhad Malaysia vide directive (No. 01420) on 8 February 1996 at its Ipoh's branch, pertaining to the 662 shares (at price of RM1.30 per unit) worth at RM860.60 and 6,662 shares (at the price of RM3.60 per unit) worth RM23, 983.20 under the Koperasi Serbaguna Malaysia Berhad ("KSM") to his beneficiaries including the Plaintiffs but until to date, there was no distribution made to the Plaintiffs despite them being the beneficiaries;
(iv) That there are suspicions, misgivings and/or reasonable doubts on the authenticity and/or legitimacy on the sale of 530,900 shares of DTI Holdings Sdn Bhd (Company No. 64818-X) belonging to the Deceased which purportedly agreed to
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