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Wed, Jul 11, 2018 – 20:58
The Kuala Lumpur High Court has quashed an interim injunction order freezing the assets of two directors of Adventa Capital that had been put in place. place following a filing by Singapore … Top Glove Corporation said however that the inter-party hearing for its claims against Adventa Capital is now set on July 19th.
In a separate statement, Adventa Capital said that the court released and withdrew the order after a July 11 hearing the lawyer found no full disclosure on "important issues ".
Top Glove had obtained on July 2 a provisional order against the directors of Adventa Capital, Low Chin Guan, Wong Chin Toh and ACPL Sdn Bhd.
Top Glove sued Adventa Capital and the two appointed directors for the acquisition of Aspion, which owns three glove manufacturing plants in Malaysia. On Tuesday, the Singapore-listed gloves maker, citing an interim report from an independent accounting firm, claimed that Aspion's assets and acquisition price were overvalued and overvalued to the tune of 714, RM 9 million (US $ 241.4 million)
Top Glove closed three cents at US $ 3.43 Wednesday
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