Minority shareholders filed suit against Maika Holdings for not acting in their interest | Malay Mail

KUALA LUMPUR, April 27 — Three minority shareholders of Maika Holdings Sdn Bhd had filed a suit against the company, seeking compensation and damages.

They named G-Team Resources and Holding Sdn Bhd, Tan Sri G. Gnanalingam, Tan Sri S. Kunsasingam, Arasu M. Thangaveloo, A. Ramesh and Maika Holdings Berhad as respondents in the suit.Among the main issues that the plaintiff had raised in the filing, is that Maika Holdings which is currently undergoing liquidation exercise, had not acted in their best interest in the sale of its insurance firm Oriental Commercial Assurance and several other assets at much lower prices.

“The grounds on which the plaintiff is filing the case is on the allegations of oppression of minority shareholders and that the company had not acted in the interest of the shareholders.

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