MC Payment controlling shareholder Ching says he lacks confidence in current board
Add BT as a preferred sourceTHE controlling shareholder of MC Payment, Ching Chiat Kwong, is asking for the removal of all but one of the company's current directors because of a "loss of confidence in the current board".
In a letter on Thursday seen by The Business Times, Mr Ching, who is also the chief executive officer of mainboard-listed property group Oxley Holdings, said this was due to "recent discoveries" as well as the current board's "failure to pay due regard to my rights as a shareholder".
Although MC Payment's chairman Albert Cheok had welcomed him to the board, Mr Ching said Mr Cheok had also referred to him as a "cunning fox" in an email that Mr Ching believes was sent to him by mistake.
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