Halim Saad loses final legal bid to restore RM1.8b civil suit

Halim Saad

(Bernama) – Tycoon Tan Sri Halim Saad lost his final legal bid to restore his RM1.8-billion civil suit against Khazanah Nasional Berhad and two others over his settlement to give up control of Renong Berhad.

A Federal Court five-member panel chaired by Court of Appeal President Tan Sri Md Raus Sharif today denied him leave to proceed with his appeal at the Federal Court.

Halim had filed the legal action against Khazanah; former minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop and the Government but in 2013, the High Court struck out his suit on the grounds that it was filed beyond the six-year time frame allowed under the Limitation Act 1953.

He was also unsuccessful in his appeal. It was dismissed by the Court of Appeal last year.

In unanimously dismissing Halim’s application today for leave to appeal, Justice Raus said Halim could not be given the leave because he had failed to satisfy the threshold requirement under Section 96 of the Courts of Judicature Act 1964.

Halim, the former executive chairman of Renong Bhd, had wanted the Federal Court to determine legal questions regarding the test in striking out civil suits but Justice Raus said that there was settled law on that issue.

Justice Raus ordered Halim to pay RM20,000 in legal costs to Khazanah and another RM20,000 in legal costs to Nor Mohamed and the government.

Halim had sued Khazanah, Nor Mohamad and the Government, seeking to reclaim over RM1.8 billion in compensation for selling his stake in Renong. He claimed he had owned 372,000,000 shares in 2001, amounting to about 16% of the company’s issued and paid-up capital.

He claimed that he had been induced by Nor Mohamed, as an agent representing the government, for him to take up the deal for his exit from Renong and United Engineers (M) Bhd (UEM) where Renong had held a substantial stake in the company’s (UEM) issued and paid-up capital.

Halim had sought RM1.3 billion in general damages for breach of the Renong purchase obligation, another RM508 million being the value of paid-up capital of Kualiti Alam Sdn Bhd in settlement of Halim’s losses for rescuing Fleet Group, and damages for alleged fraudulent misrepresentation.

On Oct 31, 2013, High Court judge Datuk Hanipah Farikullah allowed the application brought by Khazanah, Nor Mohamed Yakcop and the Government to strike out Halim’s civil suit.