Suits withdrawn by parties

  • Property
  • Thursday, 26 Mar 2015

Joint Interview Tan Sri Tan Kean Soon (Tanjung offshore)--Sri Ayutthaya Thai Restaurant, 3 Jalan Setiapuspa, Medan Damansara, KL

Ceasefire declared in Tanjung Offshore saga

PETALING JAYA: Oil and gas services provider Tanjung Offshore Bhd has withdrawn its civil suit against director Tan Sri Tan Kean Soon (pic) and five others, while Kean Soon has dropped a suit against several directors and officials of the company.

Tanjung announced yesterday that it had dropped its suit against Kean Soon, Muhammad Sabri Ab Ghani Sabri, Datuk Harzani Azmi, HMS Oil & Gas Sdn Bhd, Datuk Dr Nik Norzrul Thani N Hassan Thani and Datin Norhafizah Mohd Nordin.

Kean Soon, meanwhile, dropped his suit against Tanjung’s legal adviser Datuk Seri Krishna Kumar Sivasubramaniam, independent non-executive director Shahrizal Hisham Abdul Halim, executive director Eric Tan Wee Koh, corporate finance head Joachim Tan Seow Hoe and corporate finance officer Khairil Annuar Mohd Said.

Tanjung also dropped its defamation suit against Kean Soon, Nik Norzrul, Norhafizah, Datuk Rosman Hassan, Datuk Norazman Hamidun, Datuk Maheran Mohd Salleh and Tan Sam Eng on Tuesday.

The move on both sides to drop the respective suits comes after the parties embroiled in the boardroom tussle decided to call a ceasefire to their hostilities on Monday.

Tanjung had announced that Ferrier Hodgson MH Sdn Bhd had been appointed as the special auditor, while an EGM this Friday to remove three directors had been called off.

Its board also agreed to lift the Jan 28 suspension imposed on Kean Soon, Muhammad Sabri and Datuk Harzani with immediate effect.

Meanwhile, Tanjung also saw several boardroom changes, including Kean Soon, a substantial shareholder and non-executive director, redesignated as executive director.

Its newly appointed independent non-executive directors are Sam Eng, Maheran and Dr Nik Norzrul Thani.

Datuk Mohd Hafarizam Harun has been appointed chairman, while the two directors who resigned were independent non-executive director George William Warren Jr and executive director Muhammad Sabri.

Although its boardroom tussle seems to be over, Tanjung still has to contend with a group of 23 minority shareholders who last week filed a police report alleging irregularities in the company’s Birmingham property deal.

Collectively owning 6% stake, its representative Michael Azizeu had said the company had breached listing rules as documents filed on the deal on Bursa Malaysia last March differed from those in January this year.

He said he hoped the authorities could help them get to the bottom of the irregularities within Tanjung so the company did not fall into the PN17 list by default.

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