Caely Files Suit Against 12 Previous Directors Seeks RM30 Million In Damages

The legal battle between Caely Holdings and its directors ensues with the public listed company having informed the Bursa that it has filed suits against the previous 12 directors including the CEO and CFO.

The suits are against Datin Fong Nyok Yoon, Dato’ Chuah Chin Lai, Siow Hock Lee, Ooi Say Teik, Hem Kan @ Chan Hong Kee, Ng Boon Kang, Tan Loon Cheang, Dato’ Wira Ng Chun Hau, Lim Chee Pang, Lim Say Leong, Beh Hong Shien and Gok Ching Hee.

The cause of its action arises from the misappropriation of funds of not less than RM30,552,000 from subsidiary Caely-M, including conducts of non-disclosure of the systematic misappropriation, fraudulent concealment, conspiracy, fraud and deception, breach of directors’ duties arising from or related to the systematic misappropriation.

In its suit, Caely is seeking general damages to be assessed by the Court, special damages in the sum of RM30,552,000, exemplary damages to be assessed and awarded together with the General Damages by the Court, and interest at the rate of 5% per annum.

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