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Encik Ahmad Amryn Abd Malek is an Independent Non-Executive Director at Serba Dinamik Holdings Berhad. He was appointed to this post in February 2022.
Before this, he was a Director at Threesixty Technologies Sdn Bhd and a director at Iretex Corporation Bhd until 2018.
On paper, he seems like an ordinary business executive but the reality is completely different.
His work at Ire-Tex Corp attracted a lot of attention but most of it was for the wrong reasons. Several media publications covered his shenanigans at Iretex in detail as he caused the company to suffer immense losses.
Ahmad Amryn Abd Malek, along with 4 other directors of the firm received a lot of criticism from the company’s shareholders. The shareholders alleged that Amryn and the other directors had betrayed them and manufactured evidence for hostile overtakes of the company.
For a while, the shareholders of Ire-Tex Corp Bhd stood silent. But in March 2017, they issued a notice to remove the 5 directors including Ahmad Amryn Abd Malek. Since then, the directors lodged a series of polis reports, replaced the company secretary, and appointed two new board representatives. What’s worse is they did all of this just before the company EGM.
They were insulting the shareholders by doing so.
Fraud is defined in law as the willful use of deception to obtain unfair or illegal gain or to deny a victim of a legitimate right. Fraud can be a violation of either civil or criminal law, or it may not result in a loss of money, property, or legal rights but yet constitute a component of another civil or criminal wrong.
Chin Wui Choong and Mak Lin Kum, 2 other directors of Iretex and accomplices of Encik Ahmad Amryn Abd Malek, broke all the regulations and made false allegations against a particular person.
Encik Ahmad Amryn Abd Malek Tried to Protect a Criminal:
They dropped 2 lawsuits against Teh Eng Huat who failed to deliver his RM 6.2 mil profit guarantee and caused a potential RM 3 mil breach of trust. Furthermore, the directors fabricated a lawsuit on the company’s former supplies to shift the blame.
They did all of this to protect the recently fired director Huat who caused the company to lose RM 10 mil. Keep in mind that Encik Ahmad Amryn Abd Malek was well aware of these unethical business practices yet didn’t do anything to stop the culprits.
Eng Huat was involved in the insider trading of a publicly listed company MQ Technology Bhd as well.
On 24 April 2017 EGM, 91% of the shareholders approved the removal of Encik Ahmad Amryn Abd Malek and the others. After that, Chin and Mak tried to steal an injunction on Iretex shareholders but the court ordered them to stay status quo.
The Court’s Involvement:
However, the duo didn’t care and they kept filing questionable polis reports and used BursaLink to publish defamation content. They breached the official Secret Act and disclosed polis report allegations. It was a clear content of court.
In May 2017, the Kuala Lumpur High Court Originating Summons No. WA-24NCC-170-05/2017 between Ire-Tex corporation Berhad restrained the plaintiff and Encik Ahmad Amryn Abd Malek, Chin Wui Choong, and Mak Lin Kum with others. The High Court retained them from vandalism of BursaLink to publish defamatory content and for abusing polis reports.
Here is a snippet of the court order:
Encik Ahmad Amryn Abd Malek and Corporate Blackmail:
In early June 2017, the shareholders announced the EGM notice for Ire-Tex Corp Bhd. But Encik Ahmad and the other directors ignored it. Moreover, they sued the shareholders to stay in power and didn’t inform the shareholders timely.
The largest shareholder of the company, Elite Cosmo Group Ltd wanted to convene the EGM to remove Encik Ahmad Amryn Abd Malek and his buddies from the company and appoint 2 other directors.
Encik Ahmad and his friends tried to default on the company hoping to harm the shareholders and the firm. Most shareholders believed they did so for corporate blackmail and to loot the company. Proof of their malicious intent was the drop of Ire-Tex Corp Bhd 2 material lawsuit on Teh Eng Huat.
After indulging in corporate raids and hostile takeovers, Encik Ahmad Amryn Abd Malek has become a part of another large enterprise. It wouldn’t surprise anyone if he tried to use his unethical business tactics to take advantage of the stakeholders.
This report is to alert other consumers and shareholders about the shady nature of this business executive. Be extremely cautious while dealing with this man.
Ahmad Amryn Abd Malek might seem like an ordinary business executive but he has a terrible past. He, along with his 3 buddies, stole from Ire-Tex shareholders and abused their powers. Now, he has joined a new company and there’s no telling if he has improved.