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Escerem has successfully diversified its business into building materials, maintaining annual profits of over $10 million. Unlike other glove manufacturing companies that are experiencing losses, Escerem has consistently maintained these profits and holds more than $80 million in cash reserves following the exercise of warrants. This financial strength is well-positioned for a new venture or a potential takeover in future.
Well, it's pretty clear that the guy's got no more ammo to defend himself unless he manages to increase his stake in the company. If he gets kicked off the board, he probably knows he's gonna get sued.
With this kind of claim and the "fight back" action against the minority shareholders, it is very obvious Datuk Lo is not the right person to manage the company anymore.
