By Gabriel Chen

FED-UP minority shareholders of troubled NEL Group are asking for the removal of all the firm's directors.

Electronic components distributor NEL Group and two of its subsidiaries, Nucleus Electronics (Hong Kong) and TLG Electronics, are alleged to have been involved in 'round-tripping' transactions with Long Gain Technology and Diviner Technology Corp.

NEL allegedly bought dies - originating from Singapore-listed Advance Modules - from Long Gain Technology and sold them to Diviner Technology Corp, earning a margin in return. These 'round-tripping' transactions were said to generate an illusion of cash benefiting Advance Modules, as it was pressured to report a profit for the 2005 financial year.

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