Halim Saad’s suit against Dr M an anti-climax

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Anti-climax … Halim Saad’s suit against Dt M and Government struck out by High Court

Halim Saad’s suit against Dr M an anti-climax

KUALA LUMPUR, May 14, 2024: Not that Malaysians sympathise with tycoon Halim Saad but they were hoping for a can of worms to open in his law suit against former premier Dr Mahathir Mohamad (Dr M).

Alas, the suit was a no-go as the High Court today struck out Halim’s suit against Dr M and the Government over the takeover of Renong Berhad.

No News Is Bad News reproduces below a news report on the court proceedings:

Halim Saad’s suit against Dr M, govt over Renong takeover struck out

FMT Reporters-14 May 2024, 12:09 PM

The High Court says the tycoon’s suit was time-barred and had already been decided in a previous case.

(From left) Tycoon Halim Saad has been ordered by the High Court to pay Dr Mahathir Mohamad, Nor Mohamed Yakcop and the government RM10,000 in costs.

KUALA LUMPUR: The High Court here has struck out tycoon Halim Saad’s lawsuit against former prime minister Dr Mahathir Mohamad and two others concerning the government’s takeover of his holdings in the Renong-UEM Group.

Judicial Commissioner Suzana Said said Halim’s suit was time-barred and that its subject matter had been decided in a previous case.

The court also ordered Halim to pay RM10,000 in costs to defendants Mahathir, former second finance minister Nor Mohamed Yakcop, and the government.

The Attorney-General’s Chambers, appearing for all three defendants, had contended that Halim was barred from pursuing the case as it was time-barred both under the Limitation Act 1953 and the Public Authorities Protection Act 1948.

The defendants said Halim had filed a similar suit in the High Court more than 10 years ago to recover losses allegedly suffered following the takeover, which was also struck out.

In the current suit, filed last year, Halim claimed that Mahathir and Mohamed “forced” him to relinquish his stake in the Renong-UEM group together with all rights vested in him, without adequate compensation, over 22 years ago.

Mahathir was prime minister from July 1981 to October 2003, and again from May 2018 to February 2020.

In his statement of claim, Halim alleged that Mahathir and Mohamed were “the prime movers in respect of the said compulsory acquisition and deprivation”.

The stake was said to comprise 372 million shares, and represented 16% of Renong Bhd’s entire share capital.

Halim claimed that the shares, acquired by government investment arm Khazanah Nasional Bhd through its subsidiary in 2001, belonged to him personally and not to Umno, a fact acknowledged by current prime minister, Anwar Ibrahim, in Parliament on Nov 24, 1997.

Anwar was Mahathir’s deputy and also the finance minister and Umno deputy president at the time.

Halim claimed that UEM then held a 32.6% stake in Renong, while Renong held a 37.92% share in UEM.

The suit sought an unspecified amount in compensation or, alternatively, general, aggravated and exemplary damages to be assessed by the court, together with interest and costs.

Lawyer Malik Imtiaz Sarwar appeared for Halim while senior federal counsel Ahmad Hanir Hambaly and Sallehuddin Ali appeared for Mahathir, Mohamed and the government.