Singapore - A member of the Brunei royal family has sued a business associate for inducing him through almost daily meetings and social interactions to inject his electric vehicle business into a Singapore-listed company and then excluding him from decision-making.
Elektromotive Group Ltd (LEX) Vice Chairman Ang Gee Hing failed to help YAM Pengiran Muda Abdul Hakeem raise funds for the electric vehicle charging business as promised and denied him office space, according to the lawsuit in the Singapore High Court. The first closed hearing is scheduled for today, Bloomberg News reported yesterday.
Ang, who is seeking to throw out the lawsuit, said YAM Pengiran Muda Abdul Hakeem didn't inject five million pounds to develop the company as pledged.
YAM Pengiran Muda Abdul Hakeem, who quit as Elektromotive's executive chairman in February, is seeking S$7.8 million for his stake as well as more money for lost business opportunities and damage to his reputation, according to court papers.--Courtesy of Borneo Bulletin