Sapura Holdings settles a winding-up petition filed by director Datuk Shahriman Shamsuddin against the company and his brother out of court.
KUALA LUMPUR: A winding-up petition against Sapura Holdings Sdn Bhd has been settled out of court.
The petition was filed by company director Datuk Shahriman Shamsuddin against the firm, its Group CEO Tan Sri Shahril Shamsuddin, and Datuk Rameli Musa.
Shahriman’s counsel, Gopal Sreenevasan, confirmed the amicable settlement to reporters.
High Court Judge Leong Wai Hong recorded the withdrawal of the petition during a proceeding in chambers.
“The petition has been settled and withdrawn. The terms of the settlement are confidential,” Gopal said.
Shahriman filed the petition on Sept 23, 2024.
It was opposed by his brother, Shahril, who maintained that SHSB is not a family company.
In an affidavit, Shahril said the presence of Rameli as a four per cent shareholder refuted the claim of family ownership.
Shahril and Shahriman each hold 40.5 per cent stakes in SHSB.
Their jointly owned vehicle, Brothers Capital Sdn Bhd, holds 15 per cent, with Rameli owning the remaining four per cent.
The dispute centred on the fair division of assets, particularly the jointly owned Permata Sapura office project with KLCC Holdings.
This project was said to have triggered the disagreement between the brothers.
