A business relationship of over thirty years came to a bitter end in a lawsuit, as one man accused the other of pocketing over $600,000 of his money. The plaintiff, Mr Deniyal Kamis, brought a case against Mr Niew Bock Leng and the two companies where they were shareholders...
“Somewhere along the line, perhaps because he believed he was solely responsible for the companies’ success, Mr Niew took for himself dividends and director’s fees that rightfully belonged to Mr Deniyal.”
Practically, Mr Niew headed and controlled the companies, while Mr Deniyal was a senior operations manager who mainly supervised work at Keppel Yard. According to Mr Deniyal, they fell out in mid-2019 after he confronted Mr Niew about perceived irregularities in the companies’ management, and also demanded to know why he was not given his director’s remuneration.
But Mr Niew said Mr Deniyal wanted to get an “unjustified windfall” by forcing him to buy the shares. Justice Jeyaretnam said Mr Niew did not prove that he had loaned money to Mr Deniyal. Even if he did lend the money, he had no evidence that the latter consented to his dividends and director’s fees being used to set off the loans.
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