19 Sept 2025
Polyseed SSD Sdn Bhd (Dalam Penggulungan) 1. ) Chong Choong Kong 2. ) Soong Kit Kong Julian 3. ) Seah Tiong Gee 4. ) Foo Wai Quen
- Citation
- WA-22NCC-386-06/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-386-06/2023 (Mahkamah Tinggi)
The court held there is no sufficient legal nexus or causation between the audited reports and the退款s to RCPS subscribers or the IRB tax assessments; the refunds ordered by the Court of Appeal resulted from illegality of RCPS issuance under Companies Act s75, not from the audit reports; the cause of action in respect of negligent audit reports accrued when the audited reports were tabled (31 October 2016) and the claims were therefore time-barred under s6 Limitation Act 1953; Section 6A was inapplicable on the pleaded facts; accordingly the defendants' summary application succeeds on causatio…