DFCITY Group Bhd has removed three directors from its board following an extraordinary general meeting (EGM) held on Thursday.
The directors removed, effective immediately, are non-independent non-executive director Datuk Dr Li Wei, executive director Zhang Dandan, and independent non-executive director Chong Yuen Shuen, according to a filing with Bursa Malaysia. The resolutions for their removal were passed by voting shareholders during the EGM.
The EGM was convened at the request of three shareholders — Liew Lee Chin, Fong Yik Hon, and Marcus Tan Kok Wee — who collectively hold a 12.09% stake in DFCITY.
Ahead of the EGM, Li and Zhang had filed an application at the High Court to block the meeting. The court dismissed the application, allowing the EGM to proceed as scheduled.
The move comes amid an ongoing boardroom tussle at DFCITY. Substantial shareholder and managing director Low Kim Kiat, along with his spouse Liew Lee Chin, has been involved in a separate legal dispute with Li and Zhang concerning the validity of Kim Kiat’s redesignation from executive director to managing director in August 2025. The High Court dismissed that suit, which is now pending appeal at the Court of Appeal.
On Aug 4, 2025, Liew ceased to be a substantial shareholder after Paddingtons Hospitality Sdn Bhd, owned by their son Low Yew Kuan, sold an 11.37% stake in the company. Kim Kiat also disposed of his 3.23% direct stake. On the same day, Samoa-based PWK Co Ltd emerged as a substantial shareholder with a 13.6% stake.
Shares in DFCITY were untraded on Thursday. The stock was last traded on Feb 5 at 37 sen, giving the company a market capitalisation of RM42.24 million.
