KUALA LUMPUR (Feb 22): EVD Bhd executive director of operations and major shareholder Mah Seong Huak, who is currently serving a suspension, has been prohibited from requisitioning an extraordinary general meeting (EGM) to remove and appoint directors in the company, pending the disposal of an injunction application by executive director of corporate Gan Wee Peng.

This follows a court hearing held on Thursday, which granted a preliminary injunction against Mah.

On Jan 24 this year, Mah had requisitioned for an EGM to remove four directors, namely Datuk Dr Syed Muhammad Syed Abdul Kadir, Gan, Hon Hin See and Lee Chi Hoe, and appoint three others — Kvin Lim Chun Keat, Ibrahim Maidin and Tee Chun Yeh — as directors.

In a filing with Bursa Malaysia on Thursday, the information and communications technology system solutions provider said the EGM requisitioned by Mah to be held on Feb 26 has been withdrawn.

"The company will update on the developments on the matter accordingly," said EVD.

Mah holds a 27.058% stake in EVD. Since Jan 11, Mah has been temporarily suspended from his executive functions of overseeing the day-to-day operations of the group in project management and engineering, project tender and budget, project system engineering and business development.

In a separate filing, EVD said its wholly-owned subsidiary EVD Engineering Sdn Bhd has been slapped with a lawsuit from Zakiah Zahib and Mohd Nabawi Zahid, who own and operate SAZ Diversified, as they seek RM203,550 in outstanding payment with costs. EVD Engineering had on Feb 21 received a writ of summons and statement of claim from the duo. Case management has been fixed on March 5 via e-review.

SAZ Diversified was appointed as a subcontractor by EVD Engineering to carry out the work of providing and installing scaffolding at the Conlay MRT Station project on Jalan Conlay here.

EVD said it will obtain the necessary legal advice from its solicitor regarding the suit filed by Zakiah and Mohd Nabawi.

"In the event that the suit is in favour of the plaintiff, the financial impact to the company will be limited to the amount awarded by the court and the legal cost incurred to defend the company. There is no impact on the operations of the group," it added.

EVD assumed the listing status of iDimension Consolidated Bhd in July 2022.

EVD shares closed unchanged at 11.5 sen on Thursday, giving it a market capitalisation of RM46.74 million. A total of 254,400 shares were traded. EVD's share price has fallen 11.5% so far this year and 39.5% over the last one year.