This is a claim in relation to an alleged overvaluation of shares during the Plaintiff’s 2nd Acquisition of Gas Generators (Malaysia) Sdn Bhd (“Gastec”). The claim arises over the directors duty(ies) in ensuring the said Gastec shares weren’t overvalued to benefit the Defendants personally.

The Court dismissed the Plaintiff’s claim in its entirety and costs were awarded to the Defendants. In dismissing the Plaintiff’s claim, the Court held that the Plaintiff had failed to prove both fraud and that the Defendants had breached their fiduciary duty(ies) in the purported overvaluation of Gastec shares.

ZUL RAFIQUE & partners’ partner,  Miss Natalia Izra 
acted for 2nd  Defendant in the suit brought.