GIIB founder tells court he faced ‘corporate mafia’ takeover plot and gun threat in KL

KUALA LUMPUR, June 6 — GIIB Holdings Bhd founder Tai Boon Wee told the High Court that he was targeted in an alleged “corporate mafia” takeover attempt coordinated through a WhatsApp group known as “soldier boys”, and that he was also threatened with a gun at a restaurant, the New Straits Times (NST) reported.

According to the English daily, Tai, 66, who now serves as an adviser to the company, said the alleged plot began after he was introduced to former director Wong Weng Yew and Yee Voon Hon in 2020, which later escalated into a shareholding dispute and an alleged smear campaign against him.

He told the court that a group involving Wong and Yee had discussed strategies to take over the listed company through the WhatsApp group.

“The WhatsApp messages included discussions on the use of illicit and hidden funds, as well as plans to damage my family’s credibility and reputation,” he was quoted as saying. 

Tai added that the group also allegedly discussed delaying banking processes, manipulating media coverage and issuing negative statements aimed at depressing GIIB’s share price.

He described the messages as evidence of a “sustained, planned and coordinated scheme” to injure GIIB and gain control of the company.

GIIB has filed a defamation suit against Wong, Yee Voon Hon and five others over alleged defamatory statements published in 2022 across multiple media platforms.

Accordin to the report, Wong was removed from the board in May 2022, while Yee was a shareholder of GIIB Healthcare Products Sdn Bhd.

The company is seeking an injunction, apologies, as well as general, aggravated and punitive damages, along with costs.

In his defence, Wong said his suspension followed whistleblowing over “suspicious” transactions amounting to RM630,000 allegedly misappropriated by Tai and his family.

He also claimed Tai had asked him to approve RM500,000 in transactions after his suspension.

Both Wong and Yee have filed counterclaims against Tai and others, which will be heard before Judge Quay Soon Chew.

Tai, however, dismissed the allegations as “fabricated” and malicious, saying the transactions in question were intended for staff salaries, NST reported. 

Separately, Tai told the court of an alleged 2023 incident in which he was threatened with a firearm by businessman Andy Lim, who was previously linked in a Bloomberg report to a “corporate mafia”.

He said the incident occurred at a restaurant in Publika, Kuala Lumpur, after he was instructed by an MACC officer to meet Lim while giving a statement to the commission.

According to the reported, Tai claimed that after he refused Lim’s demands relating to GIIB shares, Lim allegedly flashed a pistol and threatened him.

Under cross-examination, he was questioned on why the alleged gun threat was not included in his earlier witness statement or police report. It was reported that Tai said he only felt safe disclosing it later after media reports emerged.

The trial resumes on July 29.