MC Payment announced on July 7, 2021, that an EGM to be held on July 30 has been cancelled. For much of June, the company’s former board was in something of a tussle with the chairman of the company’s current board, Ching Chiat Kwong. Ching is also the major shareholder of the company with 27.06%.

The former directors, comprising Anthony Koh, Albert Cheok, Kim Moon Soo, Lilian Koh and David Ong, resigned following an EGM on June 30 where shareholders voted in Ching, his son Shawn Ching, Harry Ng, Tan Chee Keong and Chee Kheng Hock Rothschild with more than 70% of votes. Ching, Shawn Ching and Harry Ng received more than 78% of votes. The July 30 EGM is no longer necessary as the resolutions were to remove the former directors.

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