Ong & Ong brothers in legal dispute over shares in family business

Mr Ong Tze Guan is represented by Daniel Koh of Eldan Law.

Business Times reports:

FORMER Singapore president Ong Teng Cheong's sons are bringing their rift to the public arena, with the eldest son Ong Tze Guan suing his brother Ong Tze Boon and seven others, claiming his shares in the family business were undervalued when the defendants acquired them.

Mr Ong Tze Guan is seeking the High Court's declaration that the transfer of his shares be rescinded and that his brother and the other six shareholders be ordered to purchase his shares at a price to be agreed on or fixed by a court-appointed independent expert.