News: Metronic Lodges Police Report Against Former Advisor, Director

Jun 4, 2019

With the discovery of the alleged unauthorised transfer of property ownership, Metronic Global Bhd made a police report that its former director Tan Kian Hong and former advisor Tan Ew Chew are under investigation.

In 2003, Metronic through its fully-owned unit Metronic Microsystem (Beijing) Co Ltd purchased an office unit in Beijing, China for RM4 million, reported The Sun Daily.

The property’s current valuation price stands at RM15.7 million.

Metronic alleged that the office unit’s ownership was transferred to a third party in July 2016 without the consent of the company’s board of directors, during the controlling time under Kian Hong and Ew Chew.

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“Once the above made aware to the new board of directors in 2017, the board of directors requested lawyer in China to investigate on the above and found that the said office has been transferred to third party with the name of Shouguang Yaoweiping in China. Subsequently, in October 2018, the Court from China via documents issued, confirmed the said transfer of property to Shouguang.”

Metronic noted that the transfer of ownership resulted in the company suffering a loss of over RM15.7 million.

Ew Chew served as the company’s advisor from 1 January 2013 to 16 May 2017, while his son Kian Hong served as director from 8 February 2013 to 10 April 2017.

Metronic revealed that it is currently seeking legal advice.

 

Image source from Metronic Group

 

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James Teoh
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REN: 16228
Total Realty Sdn Bhd
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(+60) 12-6108848