OCEANCOVE SDN. BHD. v 1. ) AMINVESTMENT BANK BERHAD 2. ) Wong Cheng Fong
Catchwords
This Court’s Orders [65] After a thorough evaluation of the evidence and submissions, and applying the relevant legal principles, this Court hereby grants the following reliefs: (a) A declaration that the 1st and 2nd Defendants had wrongfully and/or recklessly and/or negligently sold 148,500,000 Benalec shares without the Plaintiff’s authority (b) Equitable compensation of RM50,000.00 to be paid by the 1st and/or 2nd Defendant to the Plaintiff for the said unauthorized sale of 148,500,000 Benalec shares in the amount of to be paid forthwith (c) Interest of 5% on the said equitable compensation sum of RM50,000.00 to be calculated from the date of this judgment until the date of full and final settlement (d) Costs to be paid by the 1st and 2nd Defendants in the amount of RM40,000.00 respectively, to the Plaintiff, subject to allocator.
Practice Areas
This Court’s Orders 65 After a thorough evaluation of the evidence and submissions, and applying the relevant legal principles, this Court hereby grants the following reliefs: (a) A declaration that the 1st and 2nd Defendants had wrongfully and/or recklessly and/or negligently sold 148,500,000 Benalec shares without the Plaintiff’s authority (b) Equitable compensation of RM50,000.00 to be paid by the 1st and/or 2nd Defendant to the Plaintiff for the said unauthorized sale of 148,500,000 Benalec shares in the amount of to be paid forthwith (c) Interest of 5% on the said equitable compensation sum of RM50,000.00 to be calculated from the date of this judgment until the date of full and final settlement (d) Costs to be paid by the 1st and 2nd Defendants in the amount of RM40,000.00 respectively, to the Plaintiff, subject to allocator.
Judges (1)
Case Significance
OCEANCOVE SDN. BHD. v 1. ) AMINVESTMENT BANK BERHAD 2. ) Wong Cheng Fong is a High Court (Mahkamah Tinggi) decision dated September 29, 2025 (citation: wa-22ncvc-156-03-2023). The case was decided by Roz Mawar binti Rozain.
Key issues: (c) Interest of 5% on the said equitable compensation sum of RM50,000.00 to be calculated from the date of this judgment until the date of full and final settlement.
What was the outcome of OCEANCOVE SDN. BHD. v 1. ) AMINVESTMENT BANK BERHAD 2. ) Wong Cheng Fong?
OCEANCOVE SDN. BHD. v 1. ) AMINVESTMENT BANK BERHAD 2. ) Wong Cheng Fong is a High Court decision dated September 29, 2025. The case was heard by Roz Mawar binti Rozain. See the full judgment for details.