Federal Court upholds ruling against Public Bank over NFCorp data breach, quantum of damages to be decided June 18
PUTRAJAYA, May 26 — The Federal Court here today upheld the decision of the Court of Appeal which found Public Bank Berhad liable for breach of confidentiality in the case involving National Feedlot Corporation (NFCorp) and four others.
A three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, in a unanimous decision today, dismissed the bank's appeal to overturn the appellate court's Aug 2023 ruling.
Sitting with her were Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais.
The panel also ordered Public Bank to pay RM300,000 in legal costs.
Meanwhile, the court allowed a cross-appeal by NFCorp, its chairman Datuk Mohamad Salleh Ismail, and three subsidiary companies - National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd - to overturn the appellate court's decision that had awarded nominal damages to them.
Mohamad Salleh is the husband of former Wanita Umno chief Tan Sri Shahrizat Abdul Jalil.
However, Justice Hasnah fixed this June 18 to deliver the court's decision on the quantum of damages, saying the court requires time to consider relevant documents.
In today's proceeding, lawyer Tan Sri Muhammad Shafee Abdullah, representing NFCorp and four others, submitted that his clients were seeking RM60 million in general damages and RM250 million each in aggravated and exemplary damages.
In dismissing the bank's appeal, Justice Hasnah ruled that common law did not apply in this case.
NFCorp and four others sued the bank in 2012 over the leakage of their banking details.
The High Court dismissed the lawsuit in 2019, but the appellate court reversed the decision after allowing their (NFCorp and four others) appeals.
However, the Court of Appeal held that since NFCorp and the four others succeeded in proving liability, but failed to prove damages, the court decided to award a sum of RM10,000 in nominal damages.
In the suit, NFCorp and four others claimed the bank breached confidentiality by allowing details of their banking transactions to be revealed by the then PKR vice-president Rafizi Ramli (now Economy Minister).
They also claimed their business reputation and credibility suffered irreparable loss and damage as a result of the breach under the Banking and Financial Institutions Act.
In today's proceeding, lawyer Chan Kok Keong, representing the bank, argued that only nominal damages should be awarded to NFCorp and four others as there was no credible evidence to prove the losses and damages suffered by them (NFCorp and four others). — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
Explosion damages 3 homes in Bukit Mertajam, likely over debt dispute
Seberang Perai Tengah police chief Helmi Aris said initial investigations indicated that firecrackers were thrown into one of the houses, causing a significant blast that damaged the home and two adjacent properties. (Facebook pic) PETALING JAYA : A powerful explosion early this morning damaged three houses in Bukit Mertajam, Penang, with police suspecting the incident was linked to a debt dispute. Seberang Perai Tengah police chief Helmi Aris said initial investigations indicated that firecrackers were thrown into one of the houses, causing a significant explosion that damaged the targeted home and two adjacent properties. The ceilings and front yards of all three homes were damaged by the 1.05am blast. Two vehicles parked outside the affected homes were also damaged by the impact, said Helmi in a statement. 'The incident is suspected to be related to a debt. The suspects are believed to be two unidentified men who fled in a car,' he said. Helmi called on members of the public who witnessed the incident or have any information to contact the Seberang Perai Tengah police or senior investigating officer Assan Alimudin at 012-4418081. The case is being probed for committing mischief by fire under Section 435 of the Penal Code, which provides for a maximum sentence of 14 years in prison and a fine, upon conviction. The case is also being investigated under Section 6 of the Explosives Act 1957 for causing an explosion likely to endanger life or property, punishable by up to seven years' imprisonment, a fine of RM10,000, or both, upon conviction.
The Sun
an hour ago
- The Sun
Rising costs top concern of Malaysian businesses: HSBC survey
PETALING JAYA: Malaysian businesses are grappling with rising costs and persistent supply chain disruptions, prompting them to reconsider their strategies and investment plans. According to HSBC's 2025 Global Trade Pulse Survey, the ongoing changes in tariffs and evolving trade policies continue to exert pressure on local companies, reshaping the landscape for growth and operations. Insights from the survey capture the perspectives and intentions of more than 5,700 international firms across 13 markets, including Malaysia, on the challenges and outlook related to tariffs and global trade. The survey found that, currently, the biggest concern for more than half of Malaysian businesses (55%) is rising costs due to tariffs and other trade-related factors. In response to this, 42% of Malaysian businesses have shifted their focus to domestic markets, prioritising local customers and reducing international exposure while 40% of businesses plan to do the same. In addition, the survey showed 37% of Malaysian businesses have increased their inventory levels to manage supply disruptions, with 49% planning to do so as well. Despite global uncertainties, 250 Malaysia-based companies surveyed are optimistic about their international growth but need external strategic advice on the matter, the findings showed. Furthermore, 91% of companies are confident that they can grow international trade, surpassing the 89% global average. More encouragingly, 73% believe that trade uncertainty has prompted their business to evolve and explore new opportunities, while 55% are seeking strategic advice on international expansion, restructuring or supply chain realignment. Considering current trade dynamics, Malaysia-based businesses are adapting their trade strategy to significantly increase connections with China (61%), South Asia (55%) and North Asia (44%). Beyond Asia, Malaysian businesses also plan to trade more with Europe and the United States (both 32%). HSBC Malaysia CEO and head of banking Datuk Omar Siddiq said despite the challenges posed by the uncertain tariff and trade landscape, businesses in Malaysia are demonstrating resilience and adaptability in the way they operate. 'While supply chains may be further reconfigured, there continues to be strong potential for local companies to leverage on Malaysia's strong trade ties, particularly in Asia. Having said that, it is key to note that markets like the US remain key trade destinations for Malaysia for high-value sectors such as electronics and semiconductors,' he said in a statement. While managing costs is top of mind for Malaysian businesses during this period of global uncertainty, the HSBC survey noted that companies are using the opportunity to innovate and adopt new technologies to boost operational efficiencies. It showed that 64% of Malaysian businesses have adopted new technology or digital platforms, while 48% have developed new products and services. Other growth opportunities that Malaysian businesses are considering include shifting their focus to domestic or regional growth (57%) and improving their internal efficiencies or changing their cost structures (54%). During the current period of trade disruption, Malaysian businesses find cash and liquidity management as the most helpful form of support in managing working capital (64%), followed by improved payment terms with buyers and suppliers (56%) and supply chain finance (55%). 'With over 70% of Malaysian businesses anticipating sustained cost increases from the impact of tariffs and trade uncertainty on the cost of doing business, and businesses facing an average 18% drop in revenue, the imperative for strategic adaptation is clear. 'Despite uncertainties, the world is also full of opportunities. Navigating this climate requires not only agility, but strong partnerships to ensure sustained growth in a shifting global economy,' Omar said.
Free Malaysia Today
2 hours ago
- Free Malaysia Today
Nearly 160,000 harmful online content removed this year, says Fahmi
Communications minister Fahmi Fadzil said 57% of the removed content was from Facebook, 28% TikTok, and 13% YouTube. PETALING JAYA : Social media platforms Facebook, TikTok, and YouTube have removed 159,518 pieces of harmful content related to online gambling, scams, cyberbullying, and fake news as of yesterday, says communications minister Fahmi Fadzil. These removals were part of 174,473 takedown requests made so far this year, Bernama reported him as saying. 'About 51% of the content involved online gambling, 25% were related to scams, 12% cyberbullying, and 9% fake news,' Fahmi said at the ministry's monthly assembly. He said 57% of the removed content was from Facebook, 28% TikTok, and 13% YouTube. These three platforms account for nearly 95% of the problematic content identified. Fahmi also raised concerns about the continued presence of child exploitation content online, especially on Facebook. 'This raises questions about whether current laws and cooperation are enough, or if we need a more strategic approach,' he said, citing last year's joint operation, known as Op Pedo, between the police and the Malaysian Communications and Multimedia Commission (MCMC). On efforts to regulate social media, Fahmi noted that a new licensing framework introduced earlier this year aimed to make digital platforms safer, especially for children. He also highlighted the Online Safety Act (OnSA) 2024, passed in Parliament last December and set to be enforced soon. The Act gives MCMC the authority to act against platforms that fail to meet safety requirements. The OnSA has received royal assent from Yang di-Pertuan Agong Sultan Ibrahim and is currently being prepared for enforcement.
