Halim Saad loses appeal to revive RM1.8b Renong-UEM lawsuit against govt, Dr M

Malay Mail

2 days ago

PUTRAJAYA, Aug 18 — Businessman Tan Sri Halim Saad has lost his appeal to reinstate his lawsuit against the government, former prime minister Tun Dr Mahathir Mohamad and former finance minister II Tan Sri Nor Mohamed Yakcop over alleged losses he incurred following the government's 2001 acquisition of Renong Bhd and United Engineers Malaysia Berhad (UEM) shares.
A three-man bench comprising Justices Datuk Supang Lian, Datuk Lim Chong Fong, and Datuk Dr Alwi Abdul Wahab yesterday dismissed Halim's appeal and ordered him to pay RM20,000 in legal costs.
'We find the appellant's suit is time-barred pursuant to the Limitation Act 1953 and Public Authorities Protection Act 1948, warranting the striking out of the suit,' said Justice Supang, who delivered the court's unanimous decision.
She also said Halim's claim of concern about the violation of his guaranteed constitutional right should have been raised in his earlier lawsuit filed in 2013.
On May 9, 2024, the High Court allowed the applications by Dr Mahathir, Nor Mohamed, and the government to strike out the lawsuit filed by the 72-year-old business tycoon.
Earlier, on April 17, 2013, Halim filed a similar lawsuit against Khazanah Nasional, Nor Mohamed, and the government to claim damages of more than RM1.8 billion for selling his shares in Renong.
However, on October 31 of the same year, a High Court allowed an application by Khazanah Nasional, Nor Mohamed, and the government to strike out the suit on the grounds that Halim had filed the suit after a six-year time frame.
Halim failed to reinstate the 2013 lawsuit following the Federal Court's dismissal of his application to obtain leave to commence his appeal in the Federal Court in 2015.
Meanwhile, in his statement of claim in the lawsuit against Dr Mahathir, Nor Mohamed, and the government, Halim, who is Renong's former executive chairman and director, claimed that he intended to make a general offer to privatise UEM as a subsidiary of Renong with the implementation enabling the plaintiff to gain complete control and ownership of UEM.
Halim claimed that he was instructed by Dr Mahathir and Nor Mohamed not to proceed with the general offer because the government wanted to take over all the shares in UEM through Khazanah Nasional or a party to be nominated by Khazanah.
Halim alleged that he was also instructed to leave UEM and Renong as a shareholder and director, including the subsidiaries of the two companies, thus obliging him to hand over control of Renong and UEM to the government and further dispose of his Renong shares at a loss.
He claimed that Khazanah had acquired all of UEM's shares through its subsidiary, Danasaham Sdn Bhd, thereby gaining control over UEM, which at the time owned 32.6 per cent of Renong shares.
Halim is claiming, among other things, compensation for the forced takeover by the government between July and October 2001, as well as a declaration that he is a Renong shareholder.
In their statement of defence, the defendants denied having forcibly taken over the shareholding of the two companies, as the takeover was approved by Halim, who received RM165 million in compensation.
In yesterday's proceeding before the Court of Appeal, lawyers Datuk Malik Imtiaz Sarwar, A. Surendra Ananth, and Yvonne Lim represented Halim. Senior federal counsel Ahmad Hanir@Hambaly@Arwi appeared for the government, Dr Mahathir, and Nor Mohamed. — Bernama