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Malaysian badminton star Lee Zii Jia has turned to the High Court in a legal bid to exercise control over his management company, LZJ Management, despite holding a 90% majority ownership.
LZJ Management handles the athlete's badminton career and sponsorship arrangements. According to court filings, Lee owns 90% of the company, while his sister holds 9% and his younger brother owns the remaining 1%. However, the company's directorship is held by his father and his sister.
Meeting Blocked Over Quorum Requirements
Under Malaysian company law, removing directors requires passing a resolution at a general meeting, while updating company bank signatories typically demands board approval. Conducting a valid shareholders' meeting generally requires at least two shareholders to be represented either in person or by proxy.
According to his affidavit, Lee attempted to convene a shareholders' meeting on December 22. However, his family members did not attend, meaning the meeting failed to reach the required quorum. Consequently, despite his 90% stake, he was unable to cast his votes.
High Court Orders and Family Opposition
Lee has approached the High Court seeking an order to allow the shareholders' meeting to proceed, along with temporary restrictions on certain financial and management decisions.
His family is contesting the application, maintaining that court intervention is unnecessary as no wrongdoing has been established. Meanwhile, his legal team has not disclosed the specific agenda items or resolutions he intends to put forward for a vote.
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