Tai Boon Wee, founder of GIIB Holdings Bhd, told the Kuala Lumpur High Court he was targeted in a takeover attempt orchestrated by a "corporate mafia" through a WhatsApp group called "soldier boys." He described the messages as part of a “sustained, planned and coordinated scheme” aimed at damaging GIIB and gaining control of the company [1, 2].
The conflict began in 2020 after Tai was introduced to former GIIB directors Wong Weng Yew and Yee Voon Hon, sparking a shareholding dispute and smear campaign against Tai [1, 2]. Tai said the WhatsApp messages in the group discussed use of illicit and hidden funds, efforts to damage his family's reputation, delaying banking processes, manipulating media, and issuing negative statements to lower GIIB's share price [1, 2]. He said, "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" [1].
GIIB has launched a defamation lawsuit against Wong, Yee, and five others over multiple defamatory statements published in 2022 [1, 2]. Wong was removed from the GIIB board in May 2022 while Yee was a shareholder of GIIB Healthcare Products Sdn Bhd [1, 2].
Wong claimed he was suspended after blowing the whistle on suspicious transactions totaling RM630,000 he alleged were misappropriated by Tai and his family. He also said Tai asked him to approve RM500,000 in transactions after his suspension [1, 2]. Tai denied these allegations as fabricated. He asserted the disputed transactions were for staff salaries, which had been misrepresented [1, 2]. Tai also accused Wong of obstructing GIIB's financial operations, forcing Tai to approve transactions directly [1].
Tai further testified that in 2023 he was threatened at a restaurant in Publika, Kuala Lumpur, with a gun by businessman Andy Lim. Lim has been linked to corporate mafia activities in a Bloomberg report [2].
This account comes amid ongoing legal battles and boardroom disputes within GIIB Holdings. The court is expected to continue hearing testimonies and evidence on the defamation suit and takeover allegations scheduled in coming months.
