in the court of appeal malaysia (appellate jurisdiction)

The Board agreed with Tan Sri Lau’s proposal.
Agenda 11 ADVANCES FROM NGIU KEE GROUP OF
RM3.78 MILLION
Datuk Chairman remarked that the Board has in the last
meeting requested for details of the advances from Ngiu Kee
Group but still not received yet.
Mr. Liew and Mr. Louis were then instructed to provide the
requested details to the Board.
At the proposal of Tan Sri Lau the Board agreed that the
Company’s external auditor be requested to verify and confirm
the advances from Ngiu Kee Group in writing.”
At the Board of Directors meeting that took place on 17.11.2003 the
minutes show the following:
“Agenda 2
(iii) STOCK LOSS OF RM775,000/-
Ms Kat Yong respond that Messrs Ernst & Young (“EY”) has
quoted a fee of RM40,000/- on the proposed verification of the
stock Loss (RM775,000/-) and Advances from Ngiu-Kee Group
(RM3.78 Million). The Board is of the opinion that the fee
quoted by EY is too high.
The Board unanimously RESOLVED the following:
(a) The Management be instructed to request EY to include
the verification on the aforesaid Stock Loss and
Advances from Ngiu-Kee Group as part and parcel of the
forthcoming annual audit for the financial year ending 31
December 2003 subject to a fee which is acceptable by
the Board.
(b) If the fee on the verification asked by EY is too high,
another independent audit firm, subject to the mutual
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