The previous conflict between MI Technovation (MI) and Edelteq Executive Director and Group CEO Chin Yong Keong has intensified. On Monday (August 1), MI reported to the Bursa Malaysia that it had sued Edelteq and 5 subsidiaries, as well as 3 resigned employees, including Chin, Lee Kim Loon (Director of Edelteq Engineering Department) and Tan Joo Hung (shareholder).
MI’s board finds that the respondents have breached confidential information, violated copyrights and patents, conspired to injure others, and unlawfully interfered with trade, and seeks damages and injunctive orders.
Last Thursday (July 27), the company had obtained a search warrant granted by the Penang High Court, allowing its lawyers and independent experts to enter the respondent’s company premises and search for related items.
The above-mentioned search warrant came into effect on Monday (July 31), and the search is still ongoing. The company will issue a full announcement on the legal action to Bursa Malaysia. The Penang High Court has set next Monday (August 7) as the end date for the search warrant.
Previously, Chin counterclaimed for defamation against the company for the company’s announcement to Bursa Malaysia Securities Berhad on 17 May 2023 and the summary write-up prepared by the company’s solicitors attached to the announcement. Chin also counterclaimed that the writ filed by the company was an abuse of process.
