Material Litigation

Court of Appeal Civil Appeal W-01(NCVC)(W)-10-01/2019 (Cindy Yeap's Appeal)

On 9 September 2016, Capital Dynamics Sdn Bhd, Capital Dynamics Asset Management Sdn Bhd and Tan Teng Boo ("Plaintiffs") instituted legal proceedings against Cindy Yeap, a senior editor from The Edge, for authoring and publishing an article titled 'icapital.biz largest shareholder says fund fees high, to vote down director reappointments' on 14 September 2015, which contained multiple misleading, false and deceptive statements about the Plaintiffs.

The High Court ruled on 7 December 2018 that the said article is defamatory of the Plaintiffs (Civil Suit No. WA-23NCVC-46-09/2016). Cindy Yeap appealed against the decision on 28 December 2018.

Capital Dynamics is pleased to announce that the Honourable Court of Appeal of Malaysia ("Court of Appeal") has concluded this matter in its favour (Court of Appeal Civil Appeal W-01(NCVC)(W)-10-01/2019).

On 11 May 2022, the Court of Appeal unanimously agreed with the High Court decision and held that the said article is defamatory of the Plaintiffs. The 3 Court of Appeal judges echoed the decision of the High Court in holding that all elements of defamation had been successfully proven by the Plaintiffs, and rejecting Cindy Yeap's defences of justification, qualified privilege and reportage and/or Reynolds defence.

Further, they noted that the timing of the said article was very close to the Annual General Meeting of 19 September 2015 and hence could amount to incitement of the shareholders to remove the Plaintiffs from their respective positions. They concluded by saying that Cindy Yeap was irresponsible in her reporting which had the effect of lowering the Plaintiffs' reputation with the public.Less

Covid-19 SOP

All Capital Dynamics offices are operating as usual in accordance with the requirements/standard operating procedures ("SOP") as prescribed by the relevant authorities in their respective countries.

We will continue to take precautionary measures to protect our employees, clients and other stakeholders. All visitors must wear face masks and ensure social distancing when you visit any of our offices. To better manage your visits and avoid any inconvenience, you are advised to make an appointment with us before your visit via phone call or via email to the relevant offices. For more details, please access the webpage of the relevant offices.Less

Impersonation

Dear clients, followers and friends,

It has come to our notice that there have been instances of impersonation concerning Capital Dynamics Group and Mr. Tan Teng Boo, the Designated Person to the Fund Manager of icapital.biz Berhad and the Managing Director and representative of Capital Dynamics Group which comprises Capital Dynamics Asset Management Sdn Bhd, Capital Dynamics Sdn Bhd, Capital Dynamics Global Pte Ltd, Capital Dynamics (S) Pte Ltd, Capital Dynamics Asset Management (HK) Pte Ltd, Capital Dynamics (Australia) Ltd and Capital Dynamics Investment Management and Advisory (Shanghai) Co Ltd.

First, unknown individuals have been falsely portraying themselves as Mr. Tan Teng Boo, via social media and/or online applications with the username of “Tan Teng Boo” (“the Impersonators”). The Impersonators have used Mr. Tan Teng Boo’s picture and posted numerous investment advice via a WhatsApp Group entitled “陈鼎武飙股训练班” (“Tan Teng Boo’s Share Investment Training Class”) (“the WhatsApp Group”) using the mobile number +601114942189. We have also been informed that some of the members of the WhatsApp Group had suffered losses from the investment advice and/or opinion provided by the Impersonator. Aside from the WhatsApp Group, the Impersonators have also created a Facebook post to promote a fake Tan Teng Boo’s Share Investment Training Class by using Mr. Tan Teng Boo’s picture and invited people to join the WhatsApp Group.

Secondly, we have discovered fake Facebook page/profiles, with the username “Tan Teng Boo” and Mr. Tan Teng Boo’s picture. The fake Facebook page and profiles were used to provide investment advice and/or opinion and matters regarding the stock market under a false pretense. The Facebook page link is https://www.facebook.com/IcapitalTanTengBoo/?ref=page_internal whereas the Facebook profile links are https://www.facebook.com/cdwzw and https://www.facebook.com/TanTengBoo. The latter Facebook profile link has been removed. All of the above are fake and not authorised by Mr. Tan Teng Boo.

Thirdly, we were informed that other unknown individuals have issued WhatsApp messages to the members of public claiming to be financial advisor(s) acting on behalf of Capital Dynamics Sdn Bhd. They have shared with the members of the public fake licenses and/or certificates purportedly issued by Bank Negara Malaysia and ANGKASA to Capital Dynamics Sdn Bhd. They have invited the members of the public to participate in various investment plans purportedly designed and offered by Capital Dynamics Sdn Bhd.

Please click here for more information on the details of the scams we have discovered thus far

Please take note that any messages posted by the Impersonators involving investment advice and/or opinion regarding the stock market via the WhatsApp Group, Facebook page and profiles under Mr. Tan Teng Boo's name are made without the consent, knowledge and/or approval of Mr. Tan Teng Boo and the Capital Dynamics Group and do not represent the opinions, comments and/or views of Mr. Tan Teng Boo and the Capital Dynamics Group. Further, the Capital Dynamics Group does not offer investment plans to general public via social media and/or online applications.

Any investment advice and/or opinion and matters regarding the stock market (if any) from Capital Dynamics Group and Mr Tan Teng Boo shall be published only in the official websites of Capital Dynamics Group, i Capital publication and/or the official social media accounts of Capital Dynamics Group and/or any of its companies.

Mr. Tan Teng Boo and the Capital Dynamics Group shall not be responsible for any information, opinion and/or advice disseminated in the WhatsApp Group, WhatsApp messages, Facebook posts, and/or any public or online forums/platforms without their consent, knowledge and/or approval. Mr. Tan Teng Boo and the Capital Dynamics Group shall not be made liable for any direct, indirect or consequential losses or damages incurred by any persons as a result of such information, opinion and/or advice.

Mr. Tan Teng Boo and Capital Dynamics Group have since lodged police reports on the afore-mentioned incidents by the Impersonators, and informed Securities Commission Malaysia, Bursa Malaysia Securities Berhad, as well as the Malaysian Communications and Multimedia Commission. We will also notify Bank Negara Malaysia and ANGKASA. For the avoidance of doubt, we reserve all rights to take all necessary actions, including but not limited to legal actions, against any party in relation to this matter. Less