Thursday, January 27, 2011

Integrax files suit against Amin, allege breach of fiduciary duties

KUALA LUMPUR: INTEGRAX BHD [] has taken legal action against Amin Halim Rasip, alleging he had breached his fiduciary duties and want the court to issue an order to restrain him from acting as a director or co-chief executive officer.

The company said on Thursday, Jan 27'' it had filed an action at the High Court of Malaya against Amin and sought a declaration he had allegedly acted in breach of his fiduciary duties to the plaintiffs.

Integrax also wanted an order for him to pay damages arising out of his alleged breach of fiduciary duties.

It also sought an order to restrain him and from acting as a director and/or co-CEO.

On Tuesday, Perak Equity Sdn Bhd and Taipan Merit Sdn Bhd proposed to remove Amin's brother Harun Halim Rasip and Datuk Onn Hamzah as directors of Integrax Bhd, which does not bode well for the company.

Integrax received a special notice from Perak Equity and Taipan Meriot, which hold 24.94 million shares and 20 million shares respectively about their intention to propose the resolutions to remove Harun and Onn.


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