1. ) KACON ASSET GROUP SDN. BHD. 2. ) TAN HAI KEAT v 1. ) KACON CONSTRUCTION SDN. BHD. 2. ) CAL-TEST LABORATORY SDN. BHD. 3. ) RAMLI BIN OSMAN 4. ) MOHD HASRULNIZAM BIN ENDRUS 5. ) WANG MIN

wa-24ncc-212-04-2025 High Court (Mahkamah Tinggi) 17 July 2025 • WA-24NCC-212-04/2025

Catchwords

Applicant’s alleged that the share transfer agreement is void for failure of consideration and seeking a consequential order for the return of the shares transferred pursuant to the agreement – The Redeemable Convertible Preference Shares (“RCPS”) had been registered in the name of the 1st Plaintiff pursuant to Section 78, Companies Act 2016 – The 1st Plaintiff had also dealt with the RCPS by transferring the same to third parties, that the Forms of Transfer of Securities were executed in accordance to Section 105, Companies Act 2016 – The Agreement had in fact been fully performed – Injunctive reliefs sought are wide and disproportionate to the Plaintiff’s concerns. Originating Summons is dismissed.

Practice Areas

Applicant’s alleged that the share transfer agreement is void for failure of consideration and seeking a consequential order for the return of the shares transferred pursuant to the agreement

Judges (1)

Ong Chee Kwan Delivered

Parties (7)

CAL-TEST LABORATORY Sdn Bhd Respondent KACON ASSET GROUP Sdn Bhd Applicant KACON CONSTRUCTION Sdn Bhd Respondent Mohd Hasrulnizam bin Endrus Respondent Ramli bin Osman Respondent Tan Hai Keat Applicant Wang Min Respondent

Case Significance

1. ) KACON ASSET GROUP SDN. BHD. 2. ) TAN HAI KEAT v 1. ) KACON CONSTRUCTION ... is a High Court (Mahkamah Tinggi) decision dated July 17, 2025 (citation: wa-24ncc-212-04-2025). The case was decided by Ong Chee Kwan.

What was the outcome of 1. ) KACON ASSET GROUP SDN. BHD. 2. ) TAN HAI KEAT v 1. ) KACON CONSTRUCTION ...?

1. ) KACON ASSET GROUP SDN. BHD. 2. ) TAN HAI KEAT v 1. ) KACON CONSTRUCTION ... is a High Court decision dated July 17, 2025. The case was heard by Ong Chee Kwan. See the full judgment for details.