Federal Court petition filed by Halim Saad to restore Renong takeover lawsuit
In a recent development, business tycoon Halim has filed an appeal with the Federal Court over a lawsuit that was dismissed last month. The lawsuit, which was initially filed in 2023, targeted former second finance minister Nor Mohamed Yakcop and the government, alleging a compulsory acquisition and deprivation of his stake in Renong Bhd.
At the time of the alleged events, Halim held a significant position in the Malaysian political and business landscape. He was Mahathir's deputy, the finance minister, and Umno deputy president. Mahathir, who served as Prime Minister from July 1981 to October 2003, and again from May 2018 to February 2020, was a key figure in the events Halim is contesting.
The lawsuit centres around a stake comprising 372 million shares, representing 16% of Renong Bhd's entire share capital. Halim claimed that UEM held a 32.6% stake in Renong, while Renong held a 37.92% share in UEM. He alleged that Mahathir and Nor Mohamed Yakcop were the prime movers in the compulsory acquisition and deprivation of his stake in Renong-UEM, without adequate compensation.
The lawsuit seeks an unspecified amount in compensation, or alternatively, general, aggravated, and exemplary damages to be assessed by the court, together with interest and costs. However, the appellate court dismissed the lawsuit on grounds of being time-barred under the Limitation Act 1953 and the Public Authorities Protection Act 1948.
Justice Supang Lian, leading a three-member bench, declared Halim's lawsuit as a "plain and obvious case for striking out." The appellate court's decision affirmed the High Court's decision from May 9, 2024, to strike out the lawsuit. The court also ordered Halim to pay RM20,000 in costs to the defendants.
Halim raised four legal questions for the Federal Court's consideration in his appeal. These questions include whether a claim against the government for a breach of any fundamental liberties under the Federal Constitution is subject to the Limitation Act 1953 or the Public Authorities Protection Act 1948.
It is important to note that the person Halim named as co-plaintiff in his legal dispute, which was rejected several years ago, is not publicly known. Halim claimed that the shares were personally owned by him, a fact acknowledged by Anwar Ibrahim in Parliament on Nov 24, 1997.
The appeal was filed yesterday, with Halim continuing to assert his claims against Mahathir and Nor Mohamed Yakcop. The Federal Court will now consider the case and make a decision on Halim's appeal.
