KENANGA INVESTORS BERHAD 1. ) ZULRAFQ CAPITAL SDN BHD 2. ) TAN SRI ZULHASNAN BIN RAFIQUE PIHAK TERKILAN 1. ) DATUK WIRA ISMITZ MATTHEW 2. ) MUHAMMAD TAQIUDDIN HALIM

KENANGA INVESTORS BERHAD 1. ) ZULRAFQ CAPITAL SDN BHD 2. ) TAN SRI ZULHASNAN BIN RAFIQUE PIHAK TERKILAN 1. ) DATUK WIRA ISMITZ MATTHEW 2. ) MUHAMMAD TAQIUDDIN HALIM

Application dismissed because the proposed amendments would change the essential character of the Defence and Counterclaim, the application was not bona fide due to inordinate unexplained delay (approx. 22 months) and appeared tactical, and allowing them would cause prejudice that could not be compensated by costs; procedural defect in exhibits was cured and not decisive.

Citation
WA-22NCC-141-03/2023 (Mahkamah Tinggi)
Parties
Plaintiff; First Defendant in Counterclaim: Kenanga Investors Berhad; First Defendant; First Plaintiff in Counterclaim: Zulrafq Capital Sdn Bhd; Second Defendant; Second Plaintiff in Counterclaim: Tan Sri Zulhasnan bin Rafique; Second Defendant in Counterclaim: Muhammad Taqiuddin Halim; Third Defendant in Counterclaim: Datuk Wira Ismitz Matthew
Court
High Court
Jurisdiction
Malaysia
Judgment Date
28 July 2025
Case Number
WA-22NCC-141-03/2023 (Mahkamah Tinggi)
Procedural Posture
Commercial Division Civil Suit (breach of Contract; Specific Performance; Counterclaim) / Pre Trial Application to Amend Pleadings; Trial Fixed (september 2025)
Outcome
Defendants' Notice of Application dated 17.3.2025 dismissed with costs
Legal Topics
Amendment of Pleadings, Specific Performance, Put and Call Option Agreement, Delay and Prejudice, Costs
Source Language
Malay/English
Civil Procedure Commercial Law Contract Company Law Amendment of Pleadings Specific Performance Put and Call Option Agreement Delay and Prejudice +1 more

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Parties

Kenanga Investors Berhad

Plaintiff; First Defendant in Counterclaim

Zulrafq Capital Sdn Bhd

First Defendant; First Plaintiff in Counterclaim

Tan Sri Zulhasnan bin Rafique

Second Defendant; Second Plaintiff in Counterclaim

Muhammad Taqiuddin Halim

Second Defendant in Counterclaim

Datuk Wira Ismitz Matthew

Third Defendant in Counterclaim

Procedural Posture

Commercial Division Civil Suit (breach of Contract; Specific Performance; Counterclaim) / Pre Trial Application to Amend Pleadings; Trial Fixed (september 2025)

Legal Issues

  1. 1 Whether the proposed amendments would change the character of the suit
  2. 2 Whether the amendment application was bona fide
  3. 3 Whether allowing the amendments would cause prejudice not compensable by costs

Ratio Decidendi

Application dismissed because the proposed amendments would change the essential character of the Defence and Counterclaim, the application was not bona fide due to inordinate unexplained delay (approx. 22 months) and appeared tactical, and allowing them would cause prejudice that could not be compensated by costs; procedural defect in exhibits was cured and not decisive.

Court Disposition

Defendants' Notice of Application dated 17.3.2025 dismissed with costs

Orders

  • Application to amend Defence and Counterclaim dismissed
  • Costs fixed at RM5,000.00 (subject to allocatur) to be paid by the Defendants to each of Kenanga Investors Berhad, Muhammad Taqiuddin Halim and Datuk Wira Ismitz Matthew respectively