Eco World confirms unit Hasrat Budi’s authorized motion to take away two MYSJ administrators

KUALA LUMPUR: Eco World Growth Group Bhd confirms that Hasrat Budi Sdn Bhd (HBSB), a wholly-owned subsidiary of the corporate, has filed an originating summons searching for the removing of Tan Sri Shahril Shamsuddin and Anuar Rozhan as administrators of MYSJ Sdn Bhd (MYSJ).

The corporate mentioned that in reference to the article titled “MySJ shareholder seeks removing of Shahril Shamsuddin, Anuar Rozhan as administrators” printed in The Edge CEO Morning Temporary right now.

“HBSB has a ten per cent stake in MYSJ and is entitled to 1 board seat in MYSJ. Nonetheless, as an investor, HBSB is just not concerned within the administration or day-to-day operations of MYSJ.

“The authorized motion was filed to insist on HBSB’s strict contractual rights pursuant to a shareholders’ settlement in relation to its shareholding in MYSJ and it isn’t anticipated to have any materials affect on the monetary place of the corporate,” it mentioned in a inventory alternate submitting with Bursa Malaysia.

The corporate additionally confirmed that HBSB had not too long ago exercised its put choice to get well its funding and funding prices beneath the shareholders’ settlement which required Entomo Malaysia Sdn Bhd and one R. Raveenderen to buy HBSB’s current 10 per cent stake in MYSJ. – Bernama


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