Fotronic online dating

Apparently, the defendant told Lee that “[s]omebody’s share is in your account”.10 It will be recalled that PCMW had purchased 300,000 shares.Lim Puan Chew, the owner of PCMW, was unhappy with the defendant’s late delivery and demanded that Lee resolve the matter quickly.The defendant alleged that at no time before 13 April 2005 (when the shares were finally transferred) were any such instructions given to the defendant.In his affidavit, the defendant averred that since no instructions had been forthcoming from Lee for some months, he decided on his own accord sometime on or about 13 April 2005 that he should not hold on any longer to the shares and should instead transfer the shares purchased by Lee and the other plaintiffs to Lee’s share account, which eventually he did.The defendant was the executive director of Fotronics Corporation Sdn Bhd (“Fotronics”), a company incorporated in Malaysia.2 In 2004, Fotronics was seeking to list its shares in the Malaysian MESDAQ market.The requisite approvals from the Malaysian authorities to list the shares were obtained in July 2004.The amount of the cash cheque made out by the defendant for the refund, which was in Singapore dollars, matched the amount of the cheque in Singapore dollars issued by PCMW to pay for its purchase of the shares.

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The defendant had deposited additional shares in Lee’s account.1 Lee Seng Cheong (“Lee”), the first plaintiff, was close friends with the defendant, Seah Bak Seng, for more than 40 years.The second to eighth plaintiffs were the relatives, friends and colleagues of Lee.I will deal with that later.5 The plaintiffs made payments for the share purchases listed above (in [3] and [4]) by way of cheques for the equivalent amounts in Singapore dollars except for the share purchase by Lee Sea Kian, which was paid for in Malaysian Ringgit (“RM”).6 The written agreements were signed as early as August 2004 because the original intended listing date was to be in September 2004.However, due to several delays, the shares were only listed on 31 January 2005.

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