1. ) VICTOR WANG 2. ) WANG ZHENG v 1. ) MUHAMMAD FAIZ BIN MAMING 2. ) SARA NURASHEKEEN BINTI SUHAILI 3. ) STUDIO TWENTY THREE SDN. BHD.

wa-22ncvc-298-05-2025 High Court (Mahkamah Tinggi) 19 August 2025 • WA-22NCvC-298-05/2025

Catchwords

ABSTRACT The High Court maintained ad interim injunctions against two former directors for corporate misconduct at a nightclub company. Applying Keet Gerald Francis and Aspatra, the Court found breaches of fiduciary duty and s 221 Companies Act 2016 through undisclosed RM163,273 transactions that generated secret profits, unauthorised trademark transfers, an attempt to misappropriate EUR453,928 worth of equipment, and interference with the business through defamatory posts. Unchallenged evidence showed a genuine risk of dissipation from unauthorised cash removal and concealment of assets. KEYWORDS Interim injunction - Mareva injunction - fiduciary duty - secret profits - Companies Act 2016 s 221

Practice Areas

ABSTRACT The High Court maintained ad interim injunctions against two former directors for corporate misconduct at a nightclub company. Applying Keet Gerald Francis and Aspatra, the Court found breaches of fiduciary duty and s 221 Companies Act 2016 through undisclosed RM163,273 transactions that generated secret profits, unauthorised trademark transfers, an attempt to misappropriate EUR453,928 worth of equipment, and interference with the business through defamatory posts. Unchallenged evidence showed a genuine risk of dissipation from unauthorised cash removal and concealment of assets. KEYWORDS Interim injunction

Judges (1)

Arziah binti Mohamed Apandi Delivered

Parties (5)

STUDIO TWENTY THREE Sdn Bhd Defendant Muhammad Faiz bin Maming Defendant Sara Nurashekeen binti Suhaili Defendant Victor Wang Plaintiff Wang Zheng Plaintiff

Case Significance

1. ) VICTOR WANG 2. ) WANG ZHENG v 1. ) MUHAMMAD FAIZ BIN MAMING 2. ) SARA NU... is a High Court (Mahkamah Tinggi) decision dated August 19, 2025 (citation: wa-22ncvc-298-05-2025). The case was decided by Arziah binti Mohamed Apandi.

Key issues: Interim injunction - Mareva injunction - fiduciary duty - secret profits - Companies Act 2016 s 221.

What was the outcome of 1. ) VICTOR WANG 2. ) WANG ZHENG v 1. ) MUHAMMAD FAIZ BIN MAMING 2. ) SARA NU...?

1. ) VICTOR WANG 2. ) WANG ZHENG v 1. ) MUHAMMAD FAIZ BIN MAMING 2. ) SARA NU... is a High Court decision dated August 19, 2025. The case was heard by Arziah binti Mohamed Apandi. See the full judgment for details.