22-04-2025
- Business
- Free Malaysia Today
Sapura Holdings winding-up petition adjourned as Shahriman calls father to testify
Shahriman Shamsuddin wants the High Court to wind up Sapura Holdings Sdn Bhd, citing a breakdown of mutual trust and confidence with elder brother Shahril Shamsuddin.
KUALA LUMPUR : The hearing of a petition seeking to wind up Sapura Holdings Sdn Bhd (SHSB) was adjourned by the High Court here today just as the petitioner Shahriman Shamsuddin was about to call his 90-year-old father to testify.
Justice Leong Wai Hong adjourned proceedings to tomorrow just before Shamsuddin Abdul Kadir was to be cross-examined on his affidavit.
This came after Shahriman's counsel, Gopal Sreenivasan, sought time for both parties to explore a settlement to avoid 'the stress of cross-examination'.
'I will accede to counsel today to adjourn the trial but I just want to warn counsel, if you can't settle it, I won't give you more time.
'This is quite a straightforward legal case, nothing magical,' the judge said.
Shamsuddin resigned as chairman and director of the company on March 8, 2022.
Shahriman wants SHSB, the parent company to more than 40 subsidiaries which form part of the Sapura group valued at RM832 million, to be wound up. The group includes listed entity Sapura Resources Bhd.
Shahril, 63, and Shahriman, 56, each own a 48% stake in the company, while minority shareholder Rameli Musa, 79, holds the remaining 4%.
In the petition filed in September last year, Shahriman said the winding-up was necessary due to an irreparable breakdown of mutual trust and confidence between Shahril and himself.
SHSB, Shahril, and Rameli, all named as respondents, oppose the petition. They claim SHSB was never intended to be a family company and that it would not be just and equitable for the company to be wound up.
Lawyers Rabindra S Nathan and Ranjit Singh appeared for Shahril and Rameli respectively, while Idza Hajar Ahmad Idzam represented SHSB.
