EONCap director fails to explain obstacles to Hong Leong Bank takeover offer

KUALA LUMPUR: EON Capital Bhd (EONCap) director Datuk Seri Dr Tiong Ik King did not manage to explain in the High Court yesterday what were the obstacles to Hong Leong Bank Bhd’s (HLB) takeover offer of EON Cap which were discussed at two board meetings held in January this year as alleged in his affidavit.

In his affidavit in reply to a petition filed by Primus (Malaysia) Sdn Bhd, Tiong had alleged that the board meetings on Jan 22 and Jan 25 had concentrated more on the obstacles to HLB’s takeover offer as opposed to working towards a position where the board would engage HLB on its offer.