PUTRAJAYA: Businessman Tan Sri Halim Saad has filed a leave application with the Federal Court to appeal against an appellate court decision that rejected his bid to reinstate a lawsuit against the government and two former ministers.
The 72-year-old tycoon seeks to revive his legal action against the government, former prime minister Tun Dr Mahathir Mohamad and former second finance minister Tan Sri Nor Mohamed Yakcop over alleged losses from the 2001 acquisition of Renong Bhd and United Engineers Malaysia Berhad shares.
Halim’s lawyer A. Surendra Ananth confirmed the application was filed with the Federal Court on Tuesday.
The notice of motion raises four legal questions for consideration, including whether constitutional breach claims against the government are subject to limitation periods under existing legislation.
The Court of Appeal had dismissed Halim’s appeal on August 18 this year, upholding the High Court’s decision to strike out the lawsuit as time-barred under both the Limitation Act 1953 and Public Authorities Protection Act 1948.
The High Court had originally struck out the suit on May 9 following an application by Dr Mahathir, Nor Mohamed and the government.
Halim, former executive chairman and director of Renong, claimed in his statement that he intended to privatise UEM as a Renong subsidiary to gain full control and ownership.
He alleged that Dr Mahathir and Nor Mohamed instructed him to abandon the general offer because the government wanted to take over all UEM shares through Khazanah Nasional Berhad or its nominee.
The businessman further claimed he was instructed to leave UEM and Renong as shareholder and director, including their subsidiaries, forcing him to hand over control and dispose of his Renong shares at a loss.
Halim stated that Khazanah acquired all UEM shares through subsidiary Danasaham Sdn Bhd, gaining control of UEM which then owned 32.6% of Renong shares.
He seeks compensation for the alleged forced takeover between July and October 2001 and a declaration that he remains a Renong shareholder.
The defendants denied forcibly taking over the companies’ shareholding, stating the takeover was approved by Halim who received RM165 million in compensation. – Bernama