Malaysia Case Law: Decisions & Judgments

Topic

Shareholders' agreement interpretation

Legal area

Court

18 Sept 2024

BAST INVESTMENT PTE. LTD. 1. ) MUSANG DURIANS FROZEN FOOD (M) SDN. BHD. 2. ) JOHN LEE SIEW NENG PENCELAH 1. ) Pemborong A & L Sdn. Bhd. 2. ) M Durians Fruits (China) Sdn. Bhd. 3. ) Maxvogue Sdn. Bhd.

Citation

WA-22NCC-38-01/2022 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-38-01/2022 (Mahkamah Tinggi)

Interpreting the SHA objectively, clause 10.1 imposed a time-limited loan available from 1 November 2017 with repayment to be within approximately three years (reasonable time → October 2020); the loan provider proved RM14,090,000 principal unpaid plus interest, and clause 10.1(a) constituted a sufficient guarantee binding the 2nd defendant for 50% of the outstanding amount; defendants' allegations of frustration and abandonment failed and counterclaim dismissed.
7 Aug 2023

Tune Group Sdn Bhd 1. ) TUNE TALK SDN BHD 2. ) CELCOM MOBILE SDN BHD 3. ) CELCOM AXIATA BERHAD 4. ) AXIATA GROUP BERHAD 5. ) DIGI.COM BERHAD 6. ) PADDA GURTAJ SINGH 7. ) EAST PACIFIC CAPITAL PTE LTD 8. ) TUNE STRATEGIC INVESTMENTS LIMITED 9

Citation

WA-24NCC-2-01/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-2-01/2023 (Mahkamah Tinggi)

The court determined the substance of Tune Group's complaints (the disposition/exercise of rights in respect of Celcom Mobile/Celcom Axiata shares, alleged re-alignment and related subsequent events) arise out of or in relation to the SHA and therefore fall within Clause 16.1; s10(1) AA 2012 conditions satisfied and a mandatory stay was ordered; claims against non-shareholders and nominee directors disclosed no reasonable cause and were struck out.
22 Aug 2022

NURASLINA BINTI ZAINAL ABIDIN 1. ) DAGANG NET TECHNOLOGIES SDN BHD 2. ) DAGANG NEXCHANGE BERHAD 3. ) GENAXIS GROUP SDN BHD

Citation

WA-24NCC-441-10/2021 (Mahkamah Tinggi)
Court

High Court
Case number

WA-24NCC-441-10/2021 (Mahkamah Tinggi)

Plaintiff failed to prove on the balance of probabilities that there existed a special personal relationship or legitimate expectation warranting equitable intervention and failed to show that the contested acts were real, implemented oppressive conduct or caused individual prejudice; the shareholders agreement (including entire agreement and no partnership clauses) governed the relationship and the restructuring proposals were unimplemented commercial proposals, therefore the originating summons is dismissed.

Malaysia Case Law

BAST INVESTMENT PTE. LTD. 1. ) MUSANG DURIANS FROZEN FOOD (M) SDN. BHD. 2. ) JOHN LEE SIEW NENG PENCELAH 1. ) Pemborong A & L Sdn. Bhd. 2. ) M Durians Fruits (China) Sdn. Bhd. 3. ) Maxvogue Sdn. Bhd.

Tune Group Sdn Bhd 1. ) TUNE TALK SDN BHD 2. ) CELCOM MOBILE SDN BHD 3. ) CELCOM AXIATA BERHAD 4. ) AXIATA GROUP BERHAD 5. ) DIGI.COM BERHAD 6. ) PADDA GURTAJ SINGH 7. ) EAST PACIFIC CAPITAL PTE LTD 8. ) TUNE STRATEGIC INVESTMENTS LIMITED 9

NURASLINA BINTI ZAINAL ABIDIN 1. ) DAGANG NET TECHNOLOGIES SDN BHD 2. ) DAGANG NEXCHANGE BERHAD 3. ) GENAXIS GROUP SDN BHD