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KUALA LUMPUR (Sept 26): Here is a brief recap of some corporate announcements that made news on Monday (Sept 26) involving CIMB Group Holdings Bhd, Petroliam Nasional Bhd (Petronas), Genting Malaysia Bhd, Astro Malaysia Holdings Bhd, Pertama Digital Bhd, Sarawak Cable Bhd (SCable), Perak Transit Bhd, Favelle Favco Bhd, Computer Forms (Malaysia) Bhd, Microlink Solutions Bhd, CTOS Digital Bhd, Catcha Digital Bhd, Apex Equity Holdings Bhd, Sapura Energy Bhd, Paramount Corp Bhd and Omesti Bhd.
PUTRAJAYA (Feb 26): The Federal Court today dismissed an appeal by Apex Equity Holdings Bhd and its unit JF Apex Securities Bhd, over the locus standi (legal standing) of its minority shareholders on their opposition to the merger with Mercury Securities Sdn Bhd.
This follows Federal Court judge Datuk Vernon Ong Lam Kiat dismissing their appeal for leave to pose several questions of law to the apex court regarding Section 360 of the Capital Markets and Services Act on the powers of court to make certain orders. The question surrounds the locus standi (legal standing) of the applicants in filing the originating summons. The law on locus standi is settled. I do not think the leave question has passed the threshold for the court to grant leave.