Investment firms lose suit against their ex-director

GEORGE TOWN: A High Court has dismissed a suit by two investment companies against their former director for using funds from a company they had shares in to buy the said shares.

Justice Abdul Halim Aman held that plaintiffs Penang Tin Mining Co. Sdn Bhd and Yeap Hock Hoe Holdings Sdn Bhd had failed to prove the action they had brought against the director Datuk Seri Steven Yeap Leong Huat Steven. He dismissed the plaintiffs’ claim with costs.