PHOTO: PLAINTIFFS' OPENING STATEMENTTYCOON Oei Hong Leong's friendship with his erstwhile holiday companion and Raffles Education chairman Chew Hua Seng had soured two years ago when he demanded to oust Mr Chew from the board and management of the mainboard-listed education group founded by the latter.
The EGM aimed to remove Mr Chew as chairman and CEO of the education provider, where Mr Chew and his wife are also the largest shareholders with over 33 per cent stakes.In the opening statement, Mr Singh said:"A man's word is his bond. A gentleman's handshake is worth infinitely more than any signature. But not for the defendant, Mr Chew Hua Seng.
"Having shamelessly disclaimed his written commitments, he tried, in these proceedings, to hide highly relevant documents from the court to prevent it from having all the facts," said the Senior Counsel. The tycoon said under cross-examination that he and Mr Chew had been"quite good friends" for about 10 years and had holidayed together.
Mr Oei rubbished the allegation that he had wanted to use the requisition to pressure Mr Chew because he was unhappy that his shareholding would be diluted after Raffles Education's new share placement was announced on Sept 28, 2017. "You are far too intelligent and experienced in litigation, not to have thought of calling Madam Sukma as a witness," charged Mr Yeo.
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