KINIBIZ Three Selangor Turf Club (STC) members have cried foul over the three resolutions proposed and passed at a recent extraordinary general meeting (EGM) of the club over the sale of the turf club land to a company related to tycoon Vincent Tan Chee Yioun for RM640 million.

In a second affidavit earlier this month, ordinary members Lee Tak Suan and two others (the plaintiffs) claimed that the three resolutions were not done in good faith and instead were intended to shore up the defence of the club chairperson and seven others in an ongoing court proceeding started in March this year.

The plaintiffs have previously claimed in the court proceedings that the defendants had acted in breach of trust by not causing the club to terminate its sale and purchase agreement (SPA) with Selat Makmur Sdn Bhd despite breaches of contract by Selat Makmur. Vincent Tan’s Berjaya Corporation holds a 64.04 percent stake in Berjaya Land, which wholly owns Selat Makmur, the purchaser in the SPA.

The court proceedings were initiated by Lee along with fellow ordinary members Cheam Tat Pang and Quay Ong Guan against club chairperson Richard Cham Hak Lim and committee members Dr Chan Lam Kong, Rick Loh Lap Sang, Tunku Shahabudin Tunku Besar Burhanuddin, Freddie Yow Tian Sak, Lai Kuai Weng, Mohd Zain Yahya and Lim Eng Ho. Additionally, Term Boon Kheng is also named as a defendant as STC’s public officer.

In July 2004, STC agreed to sell its 244.79 acres of land in Sungai Besi in exchange for RM640 million to Selat Makmur. The agreement requires Selat Makmur to fulfill set conditions within six months of the agreement with a potential three-month extension but Selat Makmur has yet to do so after nine years, which the plaintiffs claim breaches the contract.

Under the SPA, the turf club will only get RM35 million in cash while the remaining RM605 million will be in the form of a 750-acre piece of land near Bukit Tagar, Sungai Tinggi along with new turf club facilities built on the land. Therefore STC will relocate to the new land at Bukit Tagar upon completion of the new facilities should the sale go through.

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