Court Allows Dr M S Bid To Strike Out Tycoon S Renong Suit

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Former prime minister Dr Mahathir Mohamad and two others have succeeded in their bid to strike out tycoon Halim Saad’s suit.
This is over losses he allegedly suffered following the government’s acquisition of Renong Berhad and United Engineers Malaysia Berhad (UEM) shares in 2001.
According to the New Straits Times, High Court judicial commissioner Suzana Muhamad Said allowed the joint application by Mahathir, former finance minister Nor Mohamed Yakcop and the government, ruling that there was a basis for a statute of limitation in the case.
Halim, who was Renong's executive chairperson and director, filed the suit on Aug 2 last year.
Suzana, in her ruling, said the court found Halim had previously filed a suit against Khazanah Nasional Berhad, Nor Mohamed, and the government on the same matter in 2013, which had been disposed of.
Former Renong executive chairperson and director Halim SaadSuzana further said any issues raised then were bound by the principle of res judicata and the limitation of time.
"There is a reason for the limitation clause. It is to prevent unnecessary actions, especially after a prolonged period," said the judicial commissioner.
"In this case, the incident occurred in 2001. It has been more than 20 years, and considering the suit filed in 2013, more than 10 years ago, this current case is only being brought forward now."
In 2013, the High Court struck out Halim's suit seeking RM1.8 billion in damages for the sale of his shares as it was filed beyond the six-year time frame allowed under the Limitation Act 1953.
RM10k in costs
Consequently, Suzana ruled that the court did not need to consider Halim's application to refer two constitutional questions to the Federal Court. She ordered Halim to pay RM10,000 in costs to the three defendants.
Halim, represented by counsel Malik Imtiaz Sarwar and Surendra Ananth, in his statement of claim, said the first and second defendants (Mahathir and Nor Mohamed) had acted on behalf of the government and were the prime movers in the compulsory acquisition and deprivation of his shares in 2001.
Halim asserted that Renong's 37.92 percent stake in UEM belonged to him, and he had intended to make a general offer on UEM, either through Renong or jointly, to take it private as a subsidiary.
However, he claimed he was directed by Mahathir, through Nor Mohamed, not to proceed with the takeover as the government wanted to acquire all shares in UEM through Khazanah Nasional.
Halim further claimed that he was directed to exit both UEM and Renong as a shareholder and director, including in their subsidiaries, which required him to cede control to the government and eventually dispose of his Renong shares at a loss.
He alleged that this breached his rights enshrined in Articles 8 and 13 of the Federal Constitution. - Mkini

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