Transmile: Lawsuits to clear company’s name

It was the decision of Transmile Group Bhd’s (TGB) board to sue its former managing director Gan Boon Aun and former CFO Lo Chok Ping, a vital move to clear the company’s reputation, said its managing director Liu Tai Shin. Liu said TGB’s current board decided on the legal suit against the duo without the influence of any shareholders, namely Kuok group which holds 18% equity interest and Pos Malaysia Bhd 15%. He also said that it took a while before the new board could take legal action on Gan and Lo because the company needed time to gather “sufficient evidence” to prove that the duo failed to carry out their duties at TGB. (Financial Daily)

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