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The board tussle between two rival factions for control of Sabah-based Cepatwawasan Group Bhd intensified yesterday when a High Court injunction was served to the board to prevent the faction headed by Datuk Lo Fui Ming from exercising voting rights relating to a large number of shares, said to be between 10 million and 11 million or about 5% of the company's outstanding shares of 215.5 million.
Mitsubishi Motors Corp (MMC) shareholders approved at an EGM yesterday the appointment of a new president and chief executive, and the issue of new shares to raise badly needed new funds.
Hyundai Elevator Co has scored an overwhelming victory over major shareholder Kumgang Korea Chemical Co (KCC) over management control of the de facto holding firm of Hyundai Group after chairwoman Hyun Jung-Eun received enough votes at the shareholders' meeting to secure a board seat.