DeClout faces lawsuit over dealing in shares of former subsidiary Acclivis

SINGAPORE (July 12): Technology firm DeClout says HRA Corporation, a company that trades and supplies energy products, has filed a writ of summons and statement of claim against the company, Chairman and Group CEO Wong Kok Khun and Acclivis CEO Marcus Cheng Mun Yip.

The claim made by HRA is linked to the previous issuance of new shares in the capital of Acclivis Technologies and Solutions -- a former subsidiary of DeClout -- to Cheng and the company’s subsequent disposal of its shares in Acclivis.

See: DeClout sells IT services unit Acclivis to CITIC Telecom, books $28 mil gain

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