MD: Primus objection to disposal of EONCap shares to Hong Leong is due to legality issue

KUALA LUMPUR: Primus (M) Sdn Bhd managing director and co-chief executive officer Ng Wing-Fai said he objected to the disposal of EON Capital Bhd’s (EONCap) entire assets and liabilities to Hong Leong Bank Bhd (HLB) because the legality of the matter had yet to be resolved by the court.

Last week, during cross-examination, it was put to him by Gopal Sreevenasan, counsel for Datuk Seri Dr Tiong Ik King and RH Development Corp Sdn Bhd (second and 12th respondents respectively) that the reason Ng objected to the disposal was because he was afraid of what the shareholders might say.