COUNSEL & SOLICITOR:
For the respondent – Lim Kian Leong & Cheah Kit Yee; M/s Lim Kian Leong & Co
Court Of Appeal
Companies and Corporations – Members’ rights – Petition under s 181 of the Companies Act 1965 – Derivative action – Statutory application for leave to bring action on behalf of defendant company – Whether plaintiff had locus standi to apply for leave – Whether leave ought to be granted – Whether applicant acting in good faith – Whether application brought for a collateral purpose – Whether court interference in business and commercial decision of directors warranted – Whether claim had any reasonable prospect of success – Whether mandatory general offer was illegal and unlawful – Companies Act 1965 ss 181A(1), (4)(b) & 181B(2)