21-05-2025
- Business
- Free Malaysia Today
‘Family values' take centre stage in Sapura winding-up trial
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.
KUALA LUMPUR : 'Family values' and a letter written last year by Sapura founder Shamsuddin Abdul Kadir to his two sons took centre stage at the hearing of a petition to wind up Sapura Holdings Sdn Bhd (SHSB) at the High Court today.
Shamsuddin Abdul Kadir.
Shamsuddin, who was testifying as a witness for his younger son, Shahriman, the petitioner, had made reference to family values in a letter he penned in July 2024.
Under cross-examination, counsel S Rabindra, representing elder son and second respondent, Shahril, suggested that the 90-year-old patriarch had himself disregarded family values when he sued his two sons in 2012.
Rabindra: Far from embodying family values, the fact that you proceeded to sue your sons in 2012 shows that you were pursuing your own interests.
Shamsuddin: I don't agree.
Rabindra: The fact that you once sued your sons and threatened to sue them again makes the reference to values in the letter seem of little value itself.
Shamsuddin: I don't agree.
In his testimony, Shamsuddin acknowledged that he had not mentioned the 2012 suit against his sons in his autobiography, A Driver's Son.
However, he disagreed with Rabindra's suggestion that the omission made the recollection recorded in his book unreliable and selective.
He also rejected another of the lawyer's suggestions that he had written the letter in anticipation of, and in preparation for, the petition filed in September last year — or that someone else had advised him to write it.
Under re-examination by S Gopal, representing Shahriman, Shamsuddin sought to explain the alleged inconsistency between the letter and his actions in suing his sons.
Gopal: Could you tell the court why you brought this suit against Shahril, Shahriman, and Brothers Capital Sdn Bhd?
Shamsuddin: After I agreed to transfer the properties and the 15% share in SHSB (to Brothers Capital), I didn't get any benefit, although they had promised I would benefit from it. I told my sons to return my properties and the 15% they took.
Gopal: My learned friend suggested that suing your sons was inconsistent with what you said about family values and interests. You disagreed. Why?
Shamsuddin: I sued them because they didn't keep their promise.
Gopal: It was also suggested to you that, after suing Shahril and Shahriman, the family values you spoke of no longer existed. You disagreed. Why?
Shamsuddin: Because it's still a family company.
The court also heard that the suit was resolved in 2013.
The trial before Justice Leong Wai Hong continues tomorrow.
Shahriman is seeking to wind up SHSB, the parent company of more than 40 subsidiaries valued at RM832 million. The group includes the listed entity Sapura Resources Bhd.
Shahril and Shahriman each own a 48% stake in SHSB, with the remaining 4% held by Rameli Musa.
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 him and Shahril.
SHSB, Shahril and Rameli, all named as respondents, are opposing the petition.
They claim SHSB was never intended to be a family company, and that it would not be just and equitable for it to be wound up.
