The MCA-owned Huaren Holdings today endorsed the company's RM230 million takeover of Nanyang Press Holdings although two of the four trustees abstained from the vote.

The deal was endorsed after senior trustee and MCA president Dr Ling Liong Sik overrode the two abstaining votes by MCA deputy president Lim Ah Lek and vice-president Chua Jui Meng at Huaren's EGM in Wisma MCA, Kuala Lumpur, this afternoon.

The other trustee who voted in favour of the takeover was party secretary-general Dr Ting Chew Peh.

Huaren Holdings is the investment arm of MCA.

Ling said he was disappointed with Lim and Chua's decision. Asked by reporters why the two abstained, Ling replied, "They said it (their vote) was irrelevant."

He added that under the Memorandum of Article of Huaren, as the most senior trustee, he had the right to override other votes.

Lim and Chua had earlier refused to ratify Huaren's EGM that was called on June 14, saying it was on short notice and that they needed to a 14-day notice.

The trustees were appointed unanimously by the MCA central committee years ago and would not be replaced until they retire or resign.