Safari Alliance voices concerns over digital voting at Tiger Synergy AGM

PETALING JAYA: Tiger Synergy Bhd’s substantial shareholder, Safari Alliance has issued an unprecedented plea to its fellow shareholders attending the group’s upcoming virtual annual general meeting (AGM) on June 9, to send a copy of their registration and proxy forms to safari.tigeragm@gmail.com as a means to verify the voting process.

The shareholder clarified that the unique request is to ensure that the voting process at the AGM is conducted fairly and in accordance to the law. As it is conducted virtually, it is concerned over the security, reliability and accuracy of the digital voting system.

“I have made this personal request to my fellow shareholders after our call for an independent scrutineer, to be paid at our own cost, was rejected by the Management of Tiger Synergy,” said Safari Alliance’s director and shareholder, Goh Ching Mun in a statement.

In addition, Safari Alliance filed a lawsuit against Tiger Synergy on June 1, to allow the appointment of an independent scrutineer, Fong Choong Fook of LE Global Services Sdn Bhd.

Goh stated Safari Alliance is doing all it can to ensure the rights of all shareholders are safeguarded.

He explained the AGM is critical to shareholders who want Tiger Synergy to turnaround and enhance its market value in a sustainable manner.

“We are concerned with how Tiger Synergy has been managed. The Company has raised RM84 million in new share issues but has nothing to show for it except a RM9.3 million loss for the fourth quarter of its recent financial year,” he said.

Furthermore, the shareholder also pointed out that the group’s 2019 annual report showed a hidden additional loss of RM10.2 million treated as a prior year “error”.

“These are just one of the many worrying instances that call for a change in leadership, starting with the board of directors,” he said.

At the AGM, shareholders will, amongst others, vote whether to elect Goh and five other individuals, namely Tan Say Cheong, Leong Keng Wai, Ng Leong Teck, Azmi Osman and Yeoh Lam Huat, to Tiger Synergy’s board.

source https://www.thesundaily.my/business/safari-alliance-voices-concerns-over-digital-voting-at-tiger-synergy-agm-FJ2496403