E&O/Sime Darby: The SC suffered a setback when the Court of Appeal has rejected the SC appeal for the recusal of High Court Judge Abang Iskandar from hearing the case brought by a minority shareholder of E&O against the regulator. With the rejection by the Court of Appeal, Abang Iskandar will now preside over the judicial review. No date for the hearings in the High Court has been set and it is unclear whether the SC will file an appeal over the latest decision in the Federal Court.
NiCorp: Raymond Chan was selling down his 12.19% stake in Nicorp to 9.63%, He disposed of 5.4 million shares on Sept 25, 2012 at 26 sen per share and 12.6 million shares on Sept 26, 2012 at 24.5 sen per unit. As at end June 2012 Nicorp’s net tangible asset was worth 10.72 sen. In second quarter to end June 2012, the company posted a net loss of rm358000 on turnover of rm21.21 million.
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