Apex court orders Public Bank to pay RM90m to NFCorp
The Federal Court has ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp) for breach of contract involving the protection of confidential bank account information.
According to a report by New Straits Times today, the three-member bench, led by Chief Judge of Malaya Hasnah Hashim, set the award following its previous decision to dismiss the bank's appeal and allow NFCorp's cross-appeal for exemplary and aggravated damages.
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Public Bank to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled 18 Jun 2025 01:46pm Photo by Bernama PUTRAJAYA - The Federal Court today ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp), its chairman Datuk Mohamad Salleh Ismail, and three subsidiary companies for breach of contract to protect their bank account confidentiality. A three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais awarded RM30 million each in equitable, exemplary and aggravated damages. "Public Bank is to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled,' said Justice Hasnah. In delivering the court's decision, she said the appellants had presented financial reports and audited accounts through an expert witness, which were not challenged by Public Bank. Justice Hasnah said the Court of Appeal erred when it decided that the appellants had failed to prove damages, resulting in an award of only RM10,000 in nominal damages. On May 26, the panel overturned the Court of Appeal earlier decision which had granted nominal damages to NFCorp, Mohamad Salleh and three subsidiaries - National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd. Mohamad Salleh is the husband of former Women, Family and Community Development Minister and Wanita Umno chief Tan Sri Shahrizat Abdul Jalil. Also on May 26, the Federal Court upheld the decision of the Court of Appeal, which found Public Bank liable for breach of confidentiality. The court ordered Public Bank to pay RM300,000 in legal costs. The court adjourned until today to decide on the amount of damages. NFCorp and four others filed the RM560 million suit against the bank in 2012 over the leakage of their banking details. The High Court dismissed the lawsuit in 2019, but the appellate court in 2023 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 that the bank breached confidentiality by allowing details of banking transactions to be revealed by the then PKR vice-president Rafizi Ramli. 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. After the court proceedings, Mohamad Salleh expressed gratitude, saying his family endured hardship for 13 years due to the case. In today's proceeding, Lawyer Tan Sri Muhammad Shafee Abdullah represented NFCorp and the four others, while Public Bank was represented by lawyer Chan Kok Keong. - BERNAMA More Like This
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