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 Supermax boss daughter resign coz kena bully kuat, confront dad simply buy private jet

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p4n6
post Apr 20 2023, 07:54 AM

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Guess Bursa will investigate on the falsification of documents submitted, cheating shareholders …
achong09
post Apr 20 2023, 07:57 AM

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She should be patient.. work in father company as executive or maybe snr director 1st... when father dies take over lo and implement whatever you want... afterall old man got how long more.. patient is the virtue..
zstan
post Apr 20 2023, 09:19 AM

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QUOTE(MADReaLJL @ Apr 19 2023, 09:11 PM)
They built glove manufacturing plant at Texas. Must got something to do with that I guess.
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u need a private jet to build a new plant? sweat.gif

frequency
post Apr 20 2023, 09:21 AM

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QUOTE(achong09 @ Apr 20 2023, 07:57 AM)
She should be patient.. work in father company as executive or maybe snr director 1st... when father dies take over lo and implement whatever you want... afterall old man got how long more.. patient is the virtue..
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macam pbb ma........ wait is gold but after that straight top 50 msia liao
yhtan
post Apr 20 2023, 09:46 AM

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QUOTE(B0ss_ku @ Apr 19 2023, 06:42 PM)
Why buy private jet?

Cant just charter meh?
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some rich men ego besar, own private jet baru boleh tayang mah

QUOTE(MADReaLJL @ Apr 19 2023, 09:11 PM)
They built glove manufacturing plant at Texas. Must got something to do with that I guess.
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Go US can charter plane or take commercial plane mah, 200mil for a plane plus the parking cost and crew cost is definitely not cost feasible in long run.
cloudwan0
post Apr 20 2023, 10:03 AM

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kesian, father also bullying her...
owait, is this look like JAV plot?
mezanny
post Apr 20 2023, 10:06 AM

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QUOTE(h@ksam @ Apr 19 2023, 04:35 PM)
father also scold her, ape cerita lagi?

she must be failing hard in her duties.
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according to article, daddy want private jet but someone tak kasi
mezanny
post Apr 20 2023, 10:07 AM

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QUOTE(achong09 @ Apr 20 2023, 07:57 AM)
She should be patient.. work in father company as executive or maybe snr director 1st... when father dies take over lo and implement whatever you want... afterall old man got how long more.. patient is the virtue..
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wah she no give face to father langsung, can say bye bye to her hopes.

other sibling say thank you, me next to be future chairman
mezanny
post Apr 20 2023, 10:13 AM

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QUOTE(jayraptor @ Apr 19 2023, 09:54 PM)
Either she's useless incompetent failure or the father is. Seen numbers of rich taukeh who let daughters graduated from overseas manage company.

Some daughters really useless, bossy pretending like empress and pissed off many capable staff leading company downward.

There are also cases where daughters doing better than father leading the company upward.

It depends on who the taukeh married, whose gene daughter carries and how being brought up.
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she worked for mercer consulting in USA wor.

she must have some management skills at least.

i seen parent and children dispute in running of company.

as u know in any family owned biz, employees all kow down to owner boss, suddenly someone come in can vocal to owner boss, he won't tolerate lah.

she being his daughter, in family house, can speak up, perhaps she took it a bit too far in office when she tried to do that with her father in company.
gheyfriend
post Apr 20 2023, 10:15 AM

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ppl rich ady la, wana go to a higher leve game
same like zafool, everyting got , just no power
now power kicks in, dowan lepas
GiganticBird
post Apr 20 2023, 10:18 AM

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QUOTE(JoLee @ Apr 19 2023, 10:43 PM)
Not many people would stand up against their own father if he did something wrong. Most corrupt Malaysians would say he is my father and must support him even if it is wrong. Just look at Jibby's daughter.
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its never easy to do the right thing

for me, sometime you just need to sit back and let the ship sink
DarkNite
post Apr 20 2023, 10:19 AM

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QUOTE(achong09 @ Apr 20 2023, 07:57 AM)
She should be patient.. work in father company as executive or maybe snr director 1st... when father dies take over lo and implement whatever you want... afterall old man got how long more.. patient is the virtue..
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Looks at her credentials la.
Have we not learn fr 1MDB, no matter how powerful as long as you are greedy you can be manipulated!?
There’s nothing weaker than a person’s mind, especially in the face of money!
#ApaMaluBossKu?
yhtan
post Apr 20 2023, 10:21 AM

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Another daughter also boh song daddy

QUOTE
Supermax refutes Stanley Thai's daughter Cecile's 'bullying, silencing' claims
KUALA LUMPUR (April 20): Supermax Corp Bhd has dismissed its former director Cecile Jaclyn Thai's allegations that she was subject to "bullying and silencing" from other board members when she tried to uphold her fiduciary duties to the group in the last two years, including from her own father, Supermax's executive chairman and major shareholder, Datuk Seri Stanley Thai.

Cecile, 35, is the oldest of three children — two daughters and one son — born to Stanley and his wife, Datin Seri Cheryl Tan Bee Geok. The couple, who founded Supermax in 1987, control 38.376% equity stake in the group. Cecile holds 211,258 shares.

When contacted by The Edge, the group said its board has responded to and refuted every point that Cecile raised in her letter of resignation.

"The board has stated that while it welcomes constructive criticism and different views by any members of the board, and that it will certainly take appropriate action to address shortcomings where possible, it cannot agree with Cecile's allegations and assertions, which the board finds to be unfounded.

“The fact remains that the board always allows all directors, including Cecile, to speak freely; and their views and comments be taken down in the meeting minutes accordingly is a clear indication that there have been no efforts or attempts to stifle any director,” a spokesperson of the group said.

Cecile, who the group announced on Tuesday had stepped down as its non-executive director, claimed in her letter of resignation that there had been concerted attempts by Supermax's board to "act against corporate governance practices, punish dissent and silence transparency", which led to her decision to leave the group.

In the letter sighted by The Edge, which a spokesperson for Cecile confirmed is authentic, Cecile accused her father of wanting to remove her from the board because she opposed his proposal to purchase a new aircraft for US$47.39 million (RM210.32 million) to replace one that was acquired only a year before.

She also claimed she was re-designated from executive director to non-executive director after she pointed out that giving sole authority to Stanley as the single authorised person for the company's bank accounts was against financial accountability and corporate governance practices.

Second daughter to call Stanley out over aircraft purchase
Cecile isn't the first daughter to oppose Stanley's proposal to purchase the aircraft, to be undertaken via the group's subsidiary, Maxter Glove Manufacturing Sdn Bhd.

It is learnt that Stanley's youngest child and daughter Aurelia Joie Thai, 30, has also gone up against her father over the purchase of this aircraft, a Falcon X private jet, which Aurelia claimed was unnecessary and had resulted in him trying to remove her as director at one of the group's subsidiaries.

According to court documents The Edge sighted, Aurelia filed an injunction in March this year to stop her father and three others from holding a nominee remuneration committee meeting to consider whether to allow Aurelia to continue as director of the subsidiary, pending the disposal of her application.

The meeting, which was initially scheduled for March 15, is understood to have been postponed. Aurelia's application has been fixed to be heard on May 31.

In an affidavit in support of her application, Aurelia alleged that the committee had been pressured by her father to make her appear before them to study her suitability to remain as the subsidiary's director. She also claimed her father was no longer professional in his business relationship with his family members, especially in the conduct of Supermax's business, since May 2021.

Cecile, who was first appointed Supermax's ED on Jan 2, 2018 and later re-designated as the non-executive director on Feb 28, 2022, holds 211,258 Supermax shares.

Supermax's share price closed seven sen or 7.22% lower at 90 sen on Wednesday (April 19), giving the group a market capitalisation of RM2.45 billion. The glove maker's net cash pile stood at RM2.473 billion as at end 2022.

Below is Supermax's point-by-point rebuttal of Cecile's allegations:


https://www.theedgemarkets.com/node/664099
tokroni76
post Apr 20 2023, 10:25 AM

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QUOTE(MADReaLJL @ Apr 19 2023, 09:11 PM)
They built glove manufacturing plant at Texas. Must got something to do with that I guess.
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LOL . This company got trouble with US Customs due to forced labor/slavery issues in Malaysia right?

Babi company have slaves lagi want to open factrory in US. Try lah import Jose Mexicans in and do same shit you do in Malaysia there.


Knnbuccb
post Apr 20 2023, 10:26 AM

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Funny, I just saw a Facebook news popup saying meta paid mark zakabird usd 2.3 mil for private jet travel. ... And people alrdy kecoh....


TSpremier239
post Apr 20 2023, 10:26 AM

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QUOTE(yhtan @ Apr 20 2023, 10:21 AM)
Another daughter also boh song daddy
https://www.theedgemarkets.com/node/664099
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really rich ppl problem, issue internal conflicts gaduh sampai semua public tau
yhtan
post Apr 20 2023, 10:28 AM

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QUOTE(premier239 @ Apr 20 2023, 10:26 AM)
really rich ppl problem, issue internal conflicts gaduh sampai semua public tau
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what the daughter did was right
TSpremier239
post Apr 20 2023, 10:31 AM

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QUOTE(yhtan @ Apr 20 2023, 10:28 AM)
what the daughter did was right
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right or wrong, should do it professionally, get external advisors n regulators to settle the issue at the back

now gaduh2 like this is harming the shareholders
h@ksam
post Apr 20 2023, 10:39 AM

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QUOTE(yhtan @ Apr 20 2023, 10:28 AM)
what the daughter did was right
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user posted image
green_algae
post Apr 20 2023, 10:47 AM

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QUOTE(premier239 @ Apr 20 2023, 10:31 AM)
right or wrong, should do it professionally, get external advisors n regulators to settle the issue at the back

now gaduh2 like this is harming the shareholders
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Prior to the purchase of the plane BOD needs to pass resolution for purchase of such an asset. If you call regulators, they will say BOD might say directors failed their fiduciary duty.

How to justify purchase of RM210 million plane when last plane was purchased a year ago?

This post has been edited by green_algae: Apr 20 2023, 10:49 AM

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