PUTRAJAYA, Oct 17 – The founder of Sapura Holdings, Tan Sri Shamsuddin Abdul Kadir, has filed an application at the Syariah High Court to revoke the hibah (gift) of 14.85 million company shares that he had given to his son, Sapura Holdings Sdn Bhd (SHSB) Group chief executive officer Tan Sri Shahril Shamsuddin, in 1997.
At a case management here on Thursday, the son, Shahril, via his lawyer Rafie Shafie, told the court that he is challenging the application by his father.
Rafie claimed late notice to Registrar Niana Nazahar, as Shamsuddin had only served him the writ of summons and statement of claim on Monday, Oct 13.
Shamsuddin’s counsel, Suhaimi Saad, said the 94-year-old Sapura founder had filed two applications in court: one to confirm the hibah granted to his two sons Shahril and Datuk Shahriman Shamsuddin; and another to revoke the hibah made to Shahril.
Suhaimi said Shamsuddin had given each of his sons 14,850,000 shares in Sapura Holdings on Nov 7, 1997, as part of the hibah.
The counsel for Sapura Holdings founder Tan Sri Shamsuddin Abdul Kadir (picture), Suhaimi Saad, said that Shamsuddin had filed two applications in court: one to confirm the hibah granted to his two sons Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin; and another to revoke the hibah made to Shahril.
The family has been embroiled in a bitter courtroom drama, ever since Shahriman had filed a suit against his brother to wind up Sapura Holdings Sdn Bhd (SHSB).
Shahriman had named SHSB, Shahril, and fellow director Datuk Rameli Musa, in the winding-up petition filed on Sept 23, 2024, to wind up SHSB, believing that it was needed for a fair asset distribution. Shahril, however, opposed this, claiming it is not a family company.
Shahril and minority shareholder Rameli have both stated in separate affidavits that SHSB is not a family company. SHSB is the third respondent in the case.
Shahril and Shahriman are equal shareholders of SHSB, with a 40.5% stake each, while their equally-owned vehicle Brothers Capital Sdn Bhd has a 15% stake. Rameli owns a 4% interest in the company.
Shamsuddin’s application to revoke his son’s hibah comes as a major twist in the plot, as the family feud seemed to be headed for a resolution.
On Sept 30, during the winding-up petition hearing, the High Court was told that Shahriman was closer to settling his suit against his brother Shahril.
Parties will have to inform High Court judge Leong Wai Hong on whether a settlement has been reached on Nov 11. If a settlement hasn’t been reached, the trial will continue.
The main dispute is over the fair division of assets, particularly the jointly-owned Permata Sapura office project with KLCC Holdings, which is said to have triggered the dispute between the two brothers.
Shamsuddin has come out to state in a separate affidavit that he had founded the entity as a family company, to be controlled and run equally by his two sons.
