Businessman Halim Saad’s final appeal over a 2001 government takeover of Renong and UEM shares is dismissed by the Federal Court.
PUTRAJAYA: The Federal Court has dismissed businessman Tan Sri Halim Saad’s application for leave to appeal in his lawsuit against the government and two former ministers.
A three-judge panel led by Chief Judge of Malaya Datuk Hashim Hamzah ruled Halim failed to meet the legal threshold under the Courts of Judicature Act 1964.
Hashim said the four legal questions posed did not raise novel issues or matters of public importance warranting further argument.
The panel ordered Halim to pay RM60,000 in legal costs to the respondents.
The suit stemmed from alleged losses following the government’s 2001 acquisition of shares in Renong Bhd and United Engineers Malaysia Berhad (UEM).
Halim had sued the government, former prime minister Tun Dr Mahathir Mohamad and former second finance minister Tan Sri Nor Mohamed Yakcop.
He sought compensation and a declaration that he remains a Renong shareholder.
Halim claimed he was instructed by Dr Mahathir and Nor Mohamed not to proceed with a plan to privatise UEM.
He alleged he was told the government wanted to take over UEM shares through Khazanah Nasional Berhad.
This instruction allegedly forced him to hand over control of Renong and UEM and dispose of his shares at a loss.
Khazanah’s subsidiary Danasaham Sdn Bhd subsequently acquired all UEM shares, gaining control of Renong.
The High Court struck out Halim’s suit in May 2022, a decision upheld by the Court of Appeal in August 2023.
The appellate court ruled the action was time-barred under limitation laws.
Halim’s lawyers were Datuk Malik Imtiaz Sarwar, A.Surendra Ananth and Yvonne Lim.
Senior Federal Counsel Ahmad Hanir Hambaly@Arwi and Federal Counsel Imtiyaz Wizni Aufa Othman represented the government and former ministers.
