News of Mesdaq listed INS Bioscience Bhd's
CEO Datuk David Yeat Sew Chuong sue ex-HVD actress, ex-spoke person of INS Miss Lim Chew Yin appear on all the chinese newspaper in Malaysia.
Lim Chew Yin now operate Yigaho which also sell wheat grass compete directly with Datuk David Yeat's INS Bioscience Bhd.
Datuk David Yeat and INS claim Lim Chew Yin stated that the award win by INS in Geneva and Hong Kong belong to Lim and Yigaho is untrue.
Whereas Lim Chew Yin claim that wheat grass market by INS was research and develop by his brother Lim Soon Hooi. Lim Soon Hooi was ex-General Manager of INS whereas Lim Chew Yin was ex-marketing Manager of INS.
Lim Chew Yin claim that she started weat grass business since 1995. In 2000, Datuk David Yeat approach them to form a joint venture to R&D and market wheat grass. Lim brother and sister collectively own 30% of INS.
Lim Chew Yin claim INS suppose to pay her brother 2% royalty per year but fail to do so after both of them departed the company to form Yigaho in Devember 2003.
Lim Chew Yin also deny rumour in the market that she get 4 million on disposal of her shares in INS. She only get approximately RM200 thousand for the stake.
However, based on INS Bioscience Bhd market capitalization now. 30% stake cost 4 million is not excessive. She get a bad deal if she get merely RM200 thousand?
Related News : Guang Ming Daily
Update : Guang Ming Daily
Technorati Tag: Biotechnology pharmaceutical Malaysia Health & wellness
