Safari Alliance wins suit, Tiger Synergy EGM on March 2

PETALING JAYA: Safari Alliance, one of Tiger Synergy Bhd’s major shareholders, has won the lawsuit it filed against the group’s current board of directors’ move to invalidate its EGM notice.

Tiger Synergy’s EGM convened by Safari Alliance is now set to take place on March 2.

In a statement yesterday, Safari Alliance said the High Court dismissed the suit filed by Tiger Synergy and Datuk Tan Wei Lian to invalidate the EGM convened by Safari Alliance.

The High Court also ordered Tiger Synergy to pay costs of RM15,000 to Safari Alliance following the dismissal of the suit.

Safari Alliance director and shareholder Goh Ching Mun said he was encouraged by the favourable outcome.

“As a shareholder, I believe this EGM would indeed be a watershed moment for Tiger Synergy. After four consecutive years of losses since FY2015, Tiger Synergy can benefit from a change at the helm whereby a new set of directors on the board can provide the leadership, expertise and resolve required to safeguard shareholders’ interest and eventually improve the company’s outlook,” he added.

Goh is one of the directors nominated to the board of Tiger Synergy, subject to shareholders approval at the upcoming EGM.

Safari Alliance, a substantial shareholder of Tiger Synergy with an 11.834% stake, had issued its notice of EGM, to remove all of the seven current directors of Tiger Synergy and reconstituting the board of directors.

However, a month after the notice was issued, on Feb 3, the current board of Tiger Synergy issued its own notice of EGM slated to take place earlier today.

Resolutions in the latter notice were similar, with the exception of two additional directors to be nominated to the board – Ng Hong Ming and Marzuki Hussain, nominated by shareholders Shia Xze Chyien and Wai Choo respectively.