KUALA LUMPUR (Sept 30): An inter-family dispute at Greenyield Bhd (KL:GREENYB) has escalated as shareholders aligned with Tham Chong Sing, brother of non-executive chairman Foo Keong, 69, have made a fresh attempt to call an extraordinary general meeting (EGM), this time to remove him and three other independent directors.
The group — comprising Chong Sing, Chew Kee Foo, Foong Sai Cheong and DKIC Capital Sdn Bhd — holds over 10% of Greenyield’s shares and is seeking to remove Foo Keong and three independent directors, namely:
- Saryani Che Ab Rahman
- Supramaniam R Ramasamy
- Mohd Ghozali Yahaya
Deputy non-executive chairman Foo Choon (65), brother of Chong Sing and Foo Keong, and his son Kin Shun (32), who are aligned with Chong Sing, have been spared from the proposed board changes.
Chong Sing and the rest have proposed appointing the following new board members:
- Voon Sze Lin, Tham Kin Yiq, Tham Kin Wai and Chong Sin Hao
- Plus three independents: Syakur Mohd Suhaimi, Kamarudin Md Derom and Lee Kim Hong
Earlier this month, three Tham brothers — Chong Sing, Foo Choon and Fau Sin — along with three other shareholders holding 51.1% of Greenyield, tried to remove their nephew, Tham Kin-On, 37, as CEO due to declining shareholder confidence.
Kin-On, son of Foo Keong, had been appointed in February 2025 and resigned on Sept 19.
On Sept 22, Greenyield rejected Chong Sing, Foo Choon and Fau Sin’s EGM request to appoint Kin Yiq, Kin Wai and Chong as directors, citing a lack of clarity in the resolution put forward.
The following day (Sept 23), Greenyield named Lalith Shamshir Shamsul, 53, as acting GCEO until further notice.
Greenyield, founded by the Tham family in 1937, develops and markets agro-tech products and systems.
The company reported a net loss of RM1.4 million for the six-month period ended June 30, 2025 on slightly higher revenue of RM16.6 million.
Foo Keong is the company’s single largest shareholder with a 17.31% interest, while Chong Sing is its second largest shareholder with 13.06%. Foo Choon owns a 12.99% stake and Fau Sin, a 10.89% stake.
Greenyield’s share price closed up 5.26% to 20 sen on Tuesday, valuing the company at RM110.8 million. The stock is down 14.89% year to date.