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FGV Holdings seeks to strike out counterclaim of five former senior officers

Last update: 12/03/2019
KUALA LUMPUR, March 12 (Bernama) -- FGV Holdings Berhad has filed an application to strike out the counterclaim by five former FGV non-executive directors against the company over the losses suffered in the acquisition of Asia Plantation Ltd (APL) in 2014.

Counsel Fahda Nur Ahmad Kamar who is representing the five individuals when met by reporters said apart from FGV, also filing a similar application were 10 individuals comprising FGV chairman as well as non-independent directors and non-executive directors.

The five individuals were earlier suit by FGV to claim RM514 million on the losses arising from the takeover or alternatively compensation for losses from APL takeover.

They are Tan Sri Ismee Ismail, Tan Sri Wan Abdul Aziz Wan Abdullah, Tan Sri Sulaiman Mahbob, Datuk Nozirah Bahari and Datuk Fazlur Rahman Ebrahim.

Fahda said FGV and the 10 individuals should have filed their replies on the counterclaim today but they failed to do so.

"We were also informed that the application to strike out the counterclaim had been filed and we have received the application today,” said the lawyer after attending a case proceeding in the chambers of High Court deputy registrar Farah Shuhada Ramli and FGV lawyer Ang Hean Leng was also present.

The court set April 23 for case management before Judge Datuk Azimah Omar.

The five individuals as plaintiff filed their counterclaim on Feb 11 by naming the company involved and 10 others comprising FGV chairman, as well as non-independent directors and non-executive directors as defendants.

The 10 individuals are Datuk Azhar Abdul Hamid, Mohd Hassan Ahmad, Datuk Dr Othman Omar, Dr Mohamed Nazeeb P. Alithambi, Datuk Dr Salmiah Ahmad, Datin Hoi Lai Peng, Datuk Yusli Mohamed Yusoff, Dr Nesadurai Kalanithi, Datuk Mohd Anwar Yahya dan Datuk Mohamed Suffian Awang.

On Nov 23 2018, FGV filed a suit to claim RM514 million as well as compensation against its former president and chief executive officer Datuk Mohd Emir Mavani Abdullah and 13 others on the acquisition of Asia Plantation Ltd (APL) in 2014.

According to a statement of the company to Bursa Malaysia, the other individuals named as defendants included Tan Sri Mohd Isa Abdul Samad who was FGV chairman at that time; former chief financial officer Ahmad Tifli Mohd Talha; former vice-president of Business Development for Downstream Cluster, Farisan Mokhtar; and former Downstream Cluster senior general manager, Rasydan Alias Mohamed.

Nine others are former FGV non-executive directors Ismee, Wan Abdul Aziz, Tan Sri Sulaiman Mahbob, Datuk Omar Salim, Datuk Noor Ehsanuddin Mohd, Harun Narrashid, Datuk Yahaya Abd Jabar, Datuk Faizoull Ahmad, Nozirah and Fazlur Rahman.

According to the statement to Bursa Malaysia, the suit was over the takeover of 100 percent equity in APL through a conditional voluntary cash offer in 2014.


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