VS Industry files suit against NEP Holdings, claims it was ‘oppressed’

VS Industry Bhd claims three directors of NEP Holdings exercised their powers in a manner that was “oppressive” or “unfairly prejudicial” to VS Industry or its interests as a member of NEP.

“In view of the lack of visibility as to the financial position of NEP, the company is seeking an order for NEP to be wound up and two private liquidators to be appointed to liquidate NEP and investigate into the affairs of NEP,” VS Industry said in a filing with Bursa Malaysia today. NEP operates as a holding company, and its subsidiaries designs, manufactures, and distributes water filtration systems in Malaysia, Singapore, China, Hong Kong and Taiwan.

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