Shanghai Turbo postpones second EGM

SHANGHAI Turbo Enterprises will be postponing an extraordinary general meeting (EGM), having gotten the go-ahead from the requisitioning shareholders, the board said on Monday.

The meeting, to weigh appointing Loh Kai Keong as a new company director, was originally slated for Oct 17. But it has been pushed back to Feb 12, 2019 - the same date as a separate EGM, which was adjourned on the order of the Singapore Court of Appeal.

Shareholders Lin Chuan Jun and Zhang Ping had called on Sept 11 for a vote on Mr Loh's appointment.

The duo are also behind the other EGM, which was called in January with the goal of ousting all of Shanghai Turbo's directors and replacing them with Koh Wee Kiang, Zhang Wen Jun and Mr Lin.

But the independent directors under fire forestalled their forcible removal by resigning en masse on Oct 1. Four new non-executive independent directors were then appointed.