The founder of a company allegedly targeted by a “corporate mafia” takeover scheme took the stand at the Kuala Lumpur High Court this week, describing a conspiracy coordinated through a WhatsApp group called “soldier boys” - and a gun threat he claims was made against him at a Kuala Lumpur restaurant.
In his witness statements, GIIB Holdings Berhad (GHB) founder Tai Boon Wee described how he was introduced to defendants Yee Voon Hon and Wong Weng Yew in 2020 – an encounter he says set in motion a shareholding battle and a campaign to depress GHB’s share price through manipulated media coverage.
Tai claimed a group of individuals - including Yee and Wong - conspired to take over the company, conducting their strategy discussions in a WhatsApp group called “soldier boys”.
“The WhatsApp (group) messages include discussion on the use of illicit and hidden funding, as well as plans to damage the credibility and reputation of (my) family.
“(It also discussed) acts of delaying banking processes, manipulation of media coverage, and adverse announcements to depress GHB’s share price.
“The WhatsApp (group) evidence shows a sustained, planned, and coordinated scheme by the defendants to injure GHB and to seize control of a public-listed company,” he said.
The allegations were made as Tai testified on behalf of GHB as its fifth witness in a defamation suit brought against Wong, Yee, and five others.
The suit
GHB alleged Wong defamed the company through statements made in 2022 and published in several media outlets, including The Edge Markets.
Wong had served on GHB’s board of directors before his termination in May 2022; Yee was a shareholder of GIIB Healthcare Products Sdn Bhd.
The company sought injunction relief from the court, as well as a written and verbal apology from Wong, along with general, punitive, and aggravated damages, and costs.
Wong, whose statements triggered the suit, claimed he was suspended after flagging several “dubious” transactions, including RM630,000 he alleged was misappropriated by Tai and his family.
Wong also claimed Tai had asked him to approve several transactions of up to RM500,000 after his suspension, as the former was the company’s signatory
Wong and Yee have filed separate counterclaims against Tai and his sons, Qiyao and Qisheng, as well as Wong Ping Kiong, Firmansyah Aang Muhamad, H’ng Boon Keng, Lim Teck Seng, and Messrs Joseph Yeo – all consolidated into one hearing before judge Quay Soon Chew.
Tai fires back
The 66-year-old Tai, now GHB’s adviser, told the court that Wong’s media statements amounted to “staged accusations” against him – false, malicious, and part of a coordinated conspiracy to damage both him and the company.
Tai said Wong had omitted key context that the transaction in question was merely to pay employees’ salaries.
“(The statements) were false, baseless, and made with malicious intent to tarnish my reputation as the company’s executive chairperson and CEO,” he said, adding that they were “staged accusations and part of a conspiracy orchestrated with his co-conspirators”.
He said the fallout had been severe.
“(The statement) has caused adverse financial impact on the company as well as its business operations (and) caused unnecessary stress, inflicted misery and shame, as well as putting myself in a state of scandal and humiliation in the eyes of the public.”
He claimed Wong had deliberately obstructed the company’s financial transactions, leaving him no choice but to seek Wong’s approval directly.
“Therefore, (Wong) is not entitled to use a situation he created and conspired to harm in bad faith and twist it to be a justification for him to allege me of acting ‘in affront to good governance’.
“I was merely acting in the best interest of GHB, and he knew it,” Tai said.
Threats and guns
Tai told the court he faced threats from two men over the company’s shareholder dispute – from one Chong Loong Men in 2022, and from businessperson Andy Lim in 2023. Lim was among the individuals identified as part of a “corporate mafia” in a Bloomberg report published earlier this year.
Tai claimed that while being questioned by MACC in 2023, an officer instructed him to meet Lim at The Social restaurant, in Publika, Kuala Lumpur.
“When I was still giving my statements to MACC, the officer asked me to go to the meeting (with Lim). I denied at first and insisted that I do not have any meeting. He insisted for me to go and said it was a very important meeting.
“Once I left MACC’s headquarters in Putrajaya, I followed the officer’s instruction to go to Publika, where I met up with Chong Loong Men and was introduced to Lim,” he said during his examination-in-chief by lawyer Marcus Liew.
Tai said that Lim had made demands about GHB’s shareholdings, which he refused, leading to the latter showing him a gun and threatening him.
However, Tai did not detail the gun threat in his witness statements, nor did he mention it in any police report, despite having lodged one after his meeting with Lim, leading the defendants’ lawyer Tharminder Singh to question him about the absence of such evidence.
Tai acknowledged he had omitted the gun threat from his witness statements, saying he feared for his safety at the time. It was only after the Bloomberg report, he said, that he felt secure enough to speak out.
“I think this is something that happened in Malaysia and widely known, so I think it is time for me to include it,” he said, denying the defence’s suggestion that he was “jumping on the Bloomberg bandwagon”.
The trial is scheduled to resume on July 29. - Mkini
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