Sentoria shareholders eject 4 directors, stop mandate for major shareholder

LOSS-MAKING Sentoria Group Bhd saw some action at its general meeting yesterday with shareholders rejecting the reappointment of four directors who had joined the board just four months ago.

A majority of the shareholders voted to reject the reappointments of Tan Lee Chin, Chua Eng Chin, Lee Swee Meng and S Nagaraju Sinniah, according to the company’s exchange filing yesterday.

Lee Chin joined the board as an executive director after TWL Capital Bhd emerged as a substantial shareholder of Sentoria. Lee Chin is part of TWL Capital, a private vehicle led by her brother Datuk Tan Wei Lian. As at Aug 26, TWL Capital had a 6.58% stake in Sentoria.

In the same meeting, the theme park operator-cum-property developer shareholders approved the appointment of major shareholder Datuk Gan Kim Leong and Datuk Abdul Rahman Imam Arshad as directors and Wong Yoke Nyen as senior independent non-executive director.

However, in another resolution, they denied request for shareholders’ mandate for recurrent related party transactions of a revenue or trading nature with companies in which Gan Kim Leong and persons connected to him have interests. Two shareholders, commanding 23.15% of the votes, voted against the resolution. Gan had a stake of 39.38%, according to an exchange filing on May 26.