by FARA AISYAH / pic by AFIF ABD HALIM

iDimension Consolidated Bhd’s four registered shareholders are requesting for an EGM for the removal of its two directors and appointment of two new directors.

The four promoters are holding in aggregate 18% of the company’s equity interest, or some 18.20 million ordinary shares.

The registered shareholders are Ang Beng Leong who owns 30 million ordinary shares, Ang Beng Cheong (21.4 million), Ang Beng Hwa (20 million) and Eclub Interactive Sdn Bhd (17.8 million).

In a filing to Bursa Malaysia yesterday, they were requesting resolutions to remove Tan Kian Meng and Pang Lee Fung as EDs of the company.

Tan is currently an ED of the company and was recently promoted as the COO on Feb 24. He owns 576,740 of ordinary shares and 288,370 warrants of the company.

Pang is the co-founder of the company and was appointed to the board on Dec 20, 2010. He holds 2.67 million of ordinary shares and 1.33 warrants in the company as at Dec 31, 2016.

He had disposed of all the warrants for a consideration of RM66,653.25 in April.

Beng Leong has called for an EGM and seeks to be appointed as the new ED of iDimension.

He joined the company in June 2014 following the stake purchase by online games distributor IDB Interactive Sdn Bhd.

The four stakeholders are requesting for Yap Tet Soon to be the new ED of the company.

According to the company’s second-quarter (2Q) financial period ended June 30, the company reported a 38% drop in profit of RM620,000 this year compared to RM15,000 in the corresponding quarter last year.

This is following the lower profit margin in the information technology business segment and high operation costs in the online games business segment.

Total revenue increased by 29.15% year-on-year (YoY) to RM23.34 million in 2Q, derived from the online games business segment where purchases are made by resellers in anticipation of the annual online game tournament.

iDimension also stated in its latest financial report that the management will continue to review the business strategy to improve the overall cost structure and proactively searching and exploring new sales and market opportunities from its existing customers base and new prospects.