Proxy fight in Lay Hong on unless solution found

PETALING JAYA: Agri-food and poultry giant QL Resources Bhd is determined to secure board representation at Lay Hong Bhd, which could pave the way for a proxy fight at the latter, unless an amicable solution is found.

“Going forward, we will continue to seek avenues to protect our interest, including writing in to Lay Hong to request for board representation especially now that QL is the single largest shareholder in Lay Hong. QL’s shareholding in Lay Hong is around 38.4%, above Innofarm’s,” QL executive director Chia Mak Hooi told StarBiz.