KUALA LUMPUR (Dec 12): Hong Seng Consolidated Bhd (KL:HONGSENG) said it has been asked to stop conducting business using the “Hong Seng” name and trademark.  

The request was made in a notice issued by Hong Seng Group, under the stewardship of Hong Seng Consolidated’s former executive chairman Datuk Seri Teoh Hai Hin, according to the diversified group’s bourse filing on Thursday.

Teoh resigned as managing director from Hong Seng Consolidated’s board in July 2023, and later ceased to be a substantial shareholder of the group in March 2024. He sat as executive chairman from 2020 prior to his time as managing director.  

“The consent for the company to use the name ‘Hong Seng’ or ‘HS’ and ‘HS’ trademark was also granted by Teoh,” said Hong Seng Consolidated.

The group said it does not foresee a material or operational impact from the notice, and is currently seeking legal advice on the matter.

In 2020, Teoh, via Hong Seng Group, emerged as the group’s largest shareholder after acquiring a 29.89% stake in Hong Seng Consolidated (then known as MSCM Holdings Bhd) from MMAG Holdings Bhd (KL:MMAG) for RM18.09 million cash.

Currently, Hong Seng Consolidated’s substantial shareholders are executive director Lester Chin Kent Lake with 18.73% via Radiance Dynasty Sdn Bhd, and executive director Francis Leong Seng Wui with 5.38%.

Shares in Hong Seng Consolidated ended unchanged at 1.5 sen, valuing the group at RM76.64 million.