Home News Company in the news

Tussle at MC Payment continues as Oxley's Ching steps into fray

The Edge Singapore
The Edge Singapore 5/3/2021 09:59 PM GMT+08  • 1 min read
Tussle at MC Payment continues as Oxley's Ching steps into fray
Oxley's Ching who holds largest stake in MC Payment asks for board representation in boardroom tussle
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

On May 3, MC Payment announced that the Company received two letters dated April 29 and May 3 from Ching Chiat Kwong, who owns 27.06% of MAC Payments. Ching is executive chairman and major shareholder of Oxley Holdings. He wishes to nominate Henry Ng, Shawn Ching and himself to MC Payment’s board and plans to requisition for an EGM for the purpose. Ching is also seeking a confirmation from the board that it would not be taking any steps to allot and/or issue any shares of the company, in particular that it would not be taking any action that would have a dilutive effect on shareholders ahead of the EGM.

SEE:Is there a boardroom tusssle at Catalist-listed MC Payment?

Ng and Shawn Ching did not win re-election on April 28 during the company’s AGM. Market observers indicated that CEO Anthony Koh (pictured), who holds 6% of MC Payment, collected sufficient votes to block the re-election.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.