KUALA LUMPUR: Eco World Development Group Bhd confirms that Hasrat Budi Sdn Bhd (HBSB), a wholly-owned subsidiary of the company, has filed an originating summons seeking the removal of Tan Sri Shahril Shamsuddin and Anuar Rozhan as directors of MYSJ Sdn Bhd (MYSJ).

       The company said that in reference to the article titled "MySJ shareholder seeks removal of Shahril Shamsuddin, Anuar Rozhan as directors” published in The Edge CEO Morning Brief today.

       "HBSB has a 10 per cent stake in MYSJ and is entitled to one board seat in MYSJ. However, as an investor, HBSB is not involved in the management or day-to-day operations of MYSJ.

       "The legal action was filed to insist on HBSB’s strict contractual rights pursuant to a shareholders’ agreement in relation to its shareholding in MYSJ and it is not expected to have any material impact on the financial position of the company,” it said in a stock exchange filing with Bursa Malaysia.

       The company also confirmed that HBSB had recently exercised its put option to recover its investment and funding costs under the shareholders’ agreement which required Entomo Malaysia Sdn Bhd and one R. Raveenderen to purchase HBSB’s existing 10 per cent stake in MYSJ. - Bernama