Today's Market (Ulu Tiram) Sdn. Bhd. (di bawah pentadbiran Penerima dan Pengurus yang dilantik Dato Dr. Shanmughanathan A/L Vellanthurai) 1. ) BANK KERJASAMA RAKYAT MALAYSIA BERHAD 2. ) Today's Holdings Group Sdn. Bhd.

Today's Market (Ulu Tiram) Sdn. Bhd. (di bawah pentadbiran Penerima dan Pengurus yang dilantik Dato Dr. Shanmughanathan A/L Vellanthurai) 1. ) BANK KERJASAMA RAKYAT MALAYSIA BERHAD 2. ) Today's Holdings Group Sdn. Bhd.

The court has jurisdiction to grant a consequential order to effect a final unappealed judgment; the application constituted enforcement/execution of the earlier judgment and did not seek to reopen or vary substantive findings; transfer of shares to the Plaintiff as Receiver & Manager for the benefit of the Bank...

Source-derived case information.

Citation
JA-24NCvC-1541-10/2025 (Mahkamah Tinggi)
Parties
Plaintiff (under Receiver and Manager): Today’s Market (Ulu Tiram) Sdn. Bhd.; Defendan Pertama: Bank Kerjasama Rakyat Malaysia Berhad; Defendan Kedua: Today’s Holding Group Sdn. Bhd.
Court
High Court
Jurisdiction
Malaysia
Judgment Date
12 February 2026
Case Number
JA-24NCvC-1541-10/2025 (Mahkamah Tinggi)
Procedural Posture
Civil Suit (application for Consequential Order to Enforce Prior Judgment) / Judgment (consequential Order)
Outcome
Application allowed; consequential order granted to enforce prior judgment
Legal Topics
Res Judicata, Functus Officio, Receiver and Manager (s383 Companies Act 2016), Constructive Trust, Execution/consequential Orders, Abuse of Process, Double Recovery
Company Law Equity Civil Procedure Banking and Finance Trusts and Fiduciary Law Res Judicata Functus Officio Receiver and Manager (s383 Companies Act 2016) +4 more

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Parties

Today’s Market (Ulu Tiram) Sdn. Bhd.

Plaintiff (under Receiver and Manager)

Bank Kerjasama Rakyat Malaysia Berhad

Defendan Pertama

Today’s Holding Group Sdn. Bhd.

Defendan Kedua

Procedural Posture

Civil Suit (application for Consequential Order to Enforce Prior Judgment) / Judgment (consequential Order)

Legal Issues

  1. 1 Whether the court has jurisdiction to grant a consequential order to give effect to an earlier final judgment
  2. 2 Whether the application is barred by res judicata or functus officio
  3. 3 Whether ordering transfer to the Receiver & Manager would constitute an impermissible variation of the earlier judgment

Ratio Decidendi

The court has jurisdiction to grant a consequential order to effect a final unappealed judgment; the application constituted enforcement/execution of the earlier judgment and did not seek to reopen or vary substantive findings; transfer of shares to the Plaintiff as Receiver & Manager for the benefit of the Bank does not alter the beneficiary identity and therefore is not a forbidden variation; res judicata and functus officio do not bar enforcement steps; the application is not academic nor an abuse or double recovery.

Court Disposition

Application allowed; consequential order granted to enforce prior judgment

Orders

  • Defendan Kedua shall within fourteen (14) days from date of this order transfer 3,000,000 ordinary shares in BigPhase Realty Sdn Bhd to the Plaintiff as Receiver and Manager appointed by Bank Kerjasama Rakyat Malaysia Berhad, for and on behalf of and for the benefit of the Bank, pursuant to paragraph (f) of the High...
  • If Defendan Kedua fails or defaults in complying with order (1) within the time specified, Plaintiff is entitled to take all necessary legal steps to effect the transfer