Petition to wind up Selangor royal family-linked firm on October 14

(Bernama) – Kuala Lumpur High Court will hear on Oct 14 the petition to wind up Sunshine Fleet Sdn Bhd, the main contractor of the new Shah Alam Hospital and a company owned by the Selangor sultan’s sister.

The petition was filed on April 27 by Sunshine Fleet’s managing director Putera Azamuddin Shah Abdul Aziz against the company, his mother Tengku Putri Arafiah ibni Sultan Salahuddin Abd Aziz Shah and his uncle Tengku Abdul Samad Shah Sultan Salahuddin Abd Aziz.

The date for the petition to be heard before High Court judge Mohamad Ariff Md Yusof was fixed today.

Sunshine Fleet is 70 percent owned by Tengku Putri Arafiah, the Selangor sultan’s sister, 20 percent by Tengku Abdul Samad and 10 percent by Putera Azamuddin Shah, and all three are managing directors of the company.

In his petition, Putera Azamuddin Shah said the company was being managed improperly and he had been prevented from taking part in its management and financial affairs.

He claimed that he was not informed of two resolutions which were passed at an extraordinary general meeting (EGM) held on Feb 1, 2007, to amend the company’s Articles of Association.

The petition was filed under Section 181 of the Companies Act 1965 which entitles a minority shareholder to invoke the said section when there are concerns of oppression of the minority by the majority shareholders.

It also refers to situations where there are concerns that the conduct and affairs of the company are being handled in a prejudicial manner, not in the best interest of the company.