Hock Seng Lee: Litigation involving company and Yii family concluded

PETALING JAYA: Hock Seng Lee Bhd (HSL) said the series of litigation matters involving the company and its controlling shareholder – the Yii family – has been concluded.

The company said in a filing with Bursa Malaysia that the Court of Appeal had yesterday, by consent of parties, granted an order to set aside a previous order of the High Court in Kuching on June 29.

“The appeal was thereafter withdrawn and struck out accordingly,” it said.

The Yii siblings of HSL, a construction, marine and civil engineering company based in Sarawak, had been ensnared in a long running feud, as shareholder Yii Chee Ming unsuccessfully tried to remove four directors from the board, one of which is his brother, managing director Datuk Paul Yu Chee Hoe.

Three other directors are nephew Tony Yu Yuong Wee, and brothersin-law Lau Kiing Kang and Lau Kiing Yiing. Of the four, only Kiing Yiing holds a non-executive position in HSL.

The High Court in June had dismissed Chee Ming‘s bid to remove the directors. It said the allegations made by Chee Ming “were baseless”, as there were not enough evidence to support his allegations.

The High Court has at the same time ordered the directors to make disclosures concerning the acquisition and disposal of shares in HSL and Hock Seng Lee Enterprise Sdn Bhd, the holding company of HSL.

HSL said in June that it would appeal against the decision in ordering for the disclosure.