Although not uncommon in the listed-company scene, boardroom tussles seem to be creating a bigger presence of late.
Market players will notice that at least three Bursa Malaysia-listed companies are in the throes of a good fight.
The firms are industrial packaging company D’nonce Technology Bhd, animal health and nutrition company Peterlabs Holdings Bhd , and tile maker cum property developer Seacera Group Bhd .
In the case of D’nonce, the obvious signs of a shareholder fight emerged last year.
Recall, the former owner who was also the company’s managing director and CEO, Law Kim Choon stepped down last July to pursue “personal interests.”
He had earlier sold his stake in the Penang-based company for a handsome premium.
Consequently, the firm had a new management team.
A legal battle then ensued with this team suing Law for fraud and breaching of fiduciary duties.