18 Jul 2025
WTK REALTY SDN. BHD. 1. ) KATHRYN MA WAI FONG (as the personal representative, executrix and trustee of the estate of the late Wong Kie Nai) 2. ) SOUTHWIND PLANTATION SDN. BHD.
- Citation
- 02(f)-42-08/2023(Q) (Mahkamah Persekutuan)
- Court
- f
- Case number
- 02(f)-42-08/2023(Q) (Mahkamah Persekutuan)
Breach of s132D(1) CA 1965 in respect of prior approval does not render share issuances automatically uncurable; the proper mechanism to validate such issuances is the statutory remedies in ss63 and 355 CA 1965. The Federal Court affirmed the Court of Appeal's result but on statutory grounds: the validation orders were granted because, on the facts (knowledge, acquiescence, delay, benefit derived by companies and failure to seek restitution), it was just and equitable to validate the impugned share issuances under s63/s355. The common law Duomatic principle is not the correct vehicle to cure…