Suits filed by Sakae Holdings against ex-director and others begins in High Court

Sakae Holdings building in the Tai Seng area.
Sakae Holdings building in the Tai Seng area. PHOTO: ST FILE

SINGAPORE - Mainboard-listed Sakae Holdings said in a filing to the Singapore Exchange (SGX) on Friday morning (Jan 15) that the trial for the suits filed by the company against various defendants will begin the same day in the Singapore High Court.

One suit is against Mr Andy Ong for allegedly breaching duties when he was director of the company, among other allegations.

A second suit to be heard is against various defendants who allegedly conducted the affairs of Griffin Real Estate Investment (GREIH) "in a manner that is oppressive and prejudicial" to the interests of Sakae, which is a minority shareholder of GREIH.

In these two suits, some of the defendants have made third party claims against Sakae chairman Douglas Foo, said the company. These claims will also be heard by the High Court at the trial.

There are two other suits which the High Court has directed will be deferred for now, said Sakae.

The trial has been fixed for Jan 15 to March 4.