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09/06/2010 14:22:19
Re: Change from Company A to Company B

I work with company A for almost 4years whereby my appointment letter is G.Mgr,but my main responsibility is as Marketing Manager.But after that the company assigned me to be part of director/shareholder of the company with other 5 norminies.I hold a 25% share in the company. Likewise this is given by my company to me which is at good will/ volunteers basis. I did not ask for the assignment.

Eventually early this year 2010 in May,I was ask to pay the company back for the porttion of 25% due to overall company within the 4 years period is loosing money.
The total amount which I need to pay is amounting to @ RM 52K.
I told them I was not aware of this term and condition which I was told to pay back the company since the losses accumulate in 4years period.
I was only a Sales and Marketing person of the company.

The company other share holders/directors insist that several options but each option ended where I have to repay back the RM 52K??
So lately Im now appointed to another company(subsidiary)as a Business Dev Mgr but with a wages reduce to 26% from my last job with. Anyway...I have also signed and transfer the share holder/director portion to the company as Im afraid Im still liable for the repayment as per requested by my earlier company A!

If you understand my situation can you please kindly given me a good positive advise?


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KL Siew
09/06/2010 16:33:59
I am not in the position to advise on the matters raised by you. A lawyer will be a more appropriate person to consult.
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