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Gemilang International Ltd. ( (HK:6163) ) has shared an announcement.
Gemilang International Limited has initiated legal proceedings in Malaysia against former executive director Phang Sun Wah, alleging he breached restrictive covenants in his appointment by holding positions and interests in competing businesses while serving at subsidiary Gemilang Coachwork Sdn Bhd, and is seeking to recover related damages and losses. The company also issued a formal clarification that neither it nor any group member has business, ownership or other connections with Sun Wah Holdings Sdn Bhd, Sun Bus Tech Sdn Bhd, Mr. Phang, his daughter and former director Phang Huey Shyan, or their associates, in a bid to prevent confusion among shareholders and other stakeholders about any perceived affiliations.
The most recent analyst rating on (HK:6163) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Gemilang International Ltd. stock, see the HK:6163 Stock Forecast page.
More about Gemilang International Ltd.
Gemilang International Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating through subsidiaries including Gemilang Coachwork Sdn Bhd in Malaysia. The Group is involved in the bus and coach sector, where it designs, manufactures and supplies bus bodies and related services, with a focus on regional markets in Asia.
Average Trading Volume: 41,428
Technical Sentiment Signal: Buy
Current Market Cap: HK$88.44M
For detailed information about 6163 stock, go to TipRanks’ Stock Analysis page.