Malaysia Case Law: Decisions & Judgments

Topic

Put and call option agreement

Legal area

Court

28 Jul 2025

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

Citation

WA-22NCC-141-03/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-141-03/2023 (Mahkamah Tinggi)

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.
23 Sept 2024

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

Citation

WA-22NCC-489-07/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-489-07/2023 (Mahkamah Tinggi)

All proposed interrogatories failed the necessity test under Order 26 rule 1(3) because they were duplicative of sworn affidavits and pleaded material, would not save costs as the relevant witnesses will be called at trial, and because many questions were irrelevant, vague, sought opinions or unpleaded matters and amounted to fishing expeditions; accordingly leave to serve the interrogatories was refused and the application dismissed.
23 Sept 2024

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

Citation

WA-22NCC-489-07/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-489-07/2023 (Mahkamah Tinggi)

Although the requested payment records were relevant, ordering discovery would improperly shift the burden of proof from the applicants to KIB and the request was overly broad amounting to a fishing expedition; accordingly the discovery application is dismissed and costs are awarded to KIB.
22 Nov 2023

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

Citation

WA-22NCC-141-03/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-141-03/2023 (Mahkamah Tinggi)

Plaintiff satisfied Order 14 prerequisites and established a prima facie case; Defendants failed to demonstrate any bona fide triable issue supported by clear, precise affidavit evidence. Alleged oral third‑party arrangements, third‑party payments, conspiracy and sham assertions were unsupported, inconsistent with contemporaneous documents, and insufficient to defeat summary judgment. Therefore summary judgment is appropriate for the contractual sums, interest and costs awarded.
22 Nov 2023

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

Citation

WA-22NCC-489-07/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-489-07/2023 (Mahkamah Tinggi)

Defendants failed to establish any bona fide triable issue on affidavit evidence: alleged post‑contract oral arrangements and third‑party payments did not legally vary or discharge written contractual obligations, allegations of conspiracy and sham were insufficiently pleaded and evidenced, and procedural objections were technical and non‑prejudicial; accordingly summary judgment for specific performance was appropriate and ordered.
22 Nov 2023

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

Citation

WA-22NCC-140-03/2023 (Mahkamah Tinggi)
Court

High Court
Case number

WA-22NCC-140-03/2023 (Mahkamah Tinggi)

Plaintiff satisfied the procedural and substantive prerequisites for summary judgment under Order 81; Defendants failed to establish any bona fide triable issue—alleged third‑party arrangements, conspiracy and sham assertions were unproven and inconsistent with contemporaneous documents and contract terms—therefore specific performance of the Option Agreement was ordered and costs awarded.

Malaysia Case Law

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

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

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