in the court of appeal malaysia (appellate jurisdiction)

problems or complaints with regard to the management
of the affairs of the 1 st Respondent.
PROBLEMS AND COMPLAINTS IN RESPECT OF
AFFAIRS AND CONDUCT OF THE 1 ST RESPONDENT
24. The Petitioner as the partner who has combined with the
2 nd Respondent in the joint venture business would
naturally expect a return for its efforts and investment in
the business. So after the 1 st Respondent has consistently
posted yearly losses since year 2000 the Petitioner’s
representatives at the board of directors meeting on 17
November 2003 raised this point and commented that the
previous management in years 1998 and 1999 had made
a profit.
25. The response of the 2 nd Respondent through its corporate
group chief executive officer, the 3 rd Respondent, that
“the Company has been losing money since day one and
that the old management together with the auditors
misrepresented the accounts of the Company to reflect
profit making position in the initial years” was a shock to
the Petitioner.
26. Even more shocking was the subsequent acts of the 2 nd
and 3 rd Respondent in trying to eradicate this statement
from the minutes of board of directors meeting by saying
that they have no evidence of such matter and in the
process even implicating the Petitioner’s Taiwan
members.
27. The chairman of the board of directors meeting
responded by saying that what was clearly stated by her
in direct answer to a director’s question should remain as
the true record of the proceedings.
28. At this very board of directors meeting there were
various other complaints brought up by the Petitioner for
resolution, namely:
(1) 1 st Respondent’s Stock losses of RM775,000.00;
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