KUALA LUMPUR (Jan 11): Three shareholders of Asia Media Group Bhd are seeking to replace four of the company's existing directors with new ones.

Chow Zee Neng, Sim Ah Yoke and Datuk Chu Boon Tiong, who collectively own at least 10% of the company's shares, have written to the board of Asia Media to give notice of their intention to move resolutions to effect the proposed board changes at an extraordinary general meeting (EGM) on Feb 18.

They are seeking to remove existing directors Datuk Prof Raja Munir Shah Raja Mustapha, Yap Ping Tiong, Datuk Kang Hua Keong, and Chua Yeong Lin, and replace them with Chu, Matthew Chan, Tan Vei Teck and Loi Chee Fong.

They are also pushing for any directors appointed between today and the EGM to be removed with immediate effect.

In April, the Securities Commission Malaysia said it had sought help from Interpol and the public to track down Asia media founder Datuk Ricky Wong Shee Kai over alleged money laundering. Wong was wanted in connection with offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Wong, formerly the chief executive officer of Asia Media, was removed from his post at an EGM on July 25, 2019.

Besides Wong, shareholders at that meeting also voted for the removal of Chow and three other directors, and the appointments of four new directors to the board.

Shares in Asia Media closed unchanged today at 15.5 sen, valuing the group at RM37.12 million. The counter saw 7.13 million shares traded.