Latest news with #RM560
Sinar Daily
2 days ago
- Business
- Sinar Daily
Federal court orders Public Bank to pay RM90 million in damages to NFCorp, four others
Public Bank to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled 18 Jun 2025 01:46pm Photo by Bernama PUTRAJAYA - The Federal Court today ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp), its chairman Datuk Mohamad Salleh Ismail, and three subsidiary companies for breach of contract to protect their bank account confidentiality. A three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais awarded RM30 million each in equitable, exemplary and aggravated damages. "Public Bank is to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled,' said Justice Hasnah. In delivering the court's decision, she said the appellants had presented financial reports and audited accounts through an expert witness, which were not challenged by Public Bank. Justice Hasnah said the Court of Appeal erred when it decided that the appellants had failed to prove damages, resulting in an award of only RM10,000 in nominal damages. On May 26, the panel overturned the Court of Appeal earlier decision which had granted nominal damages to NFCorp, Mohamad Salleh and three subsidiaries - National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd. Mohamad Salleh is the husband of former Women, Family and Community Development Minister and Wanita Umno chief Tan Sri Shahrizat Abdul Jalil. Also on May 26, the Federal Court upheld the decision of the Court of Appeal, which found Public Bank liable for breach of confidentiality. The court ordered Public Bank to pay RM300,000 in legal costs. The court adjourned until today to decide on the amount of damages. NFCorp and four others filed the RM560 million suit against the bank in 2012 over the leakage of their banking details. The High Court dismissed the lawsuit in 2019, but the appellate court in 2023 reversed the decision after allowing their (NFCorp and four others) appeals. However, the Court of Appeal held that since NFCorp and the four others succeeded in proving liability but failed to prove damages, the court decided to award a sum of RM10,000 in nominal damages. In the suit, NFCorp and four others claimed that the bank breached confidentiality by allowing details of banking transactions to be revealed by the then PKR vice-president Rafizi Ramli. They also claimed their business reputation and credibility suffered irreparable loss and damage as a result of the breach under the Banking and Financial Institutions Act. After the court proceedings, Mohamad Salleh expressed gratitude, saying his family endured hardship for 13 years due to the case. In today's proceeding, Lawyer Tan Sri Muhammad Shafee Abdullah represented NFCorp and the four others, while Public Bank was represented by lawyer Chan Kok Keong. - BERNAMA More Like This
Barnama
2 days ago
- Business
- Barnama
Federal Court Orders Public Bank To Pay RM90 Million In Damages To NFCorp, Four Others
PUTRAJAYA, June 18 (Bernama) -- The Federal Court today ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp), its chairman Datuk Mohamad Salleh Ismail, and three subsidiary companies for breach of contract to protect their bank account confidentiality. A three-member bench led by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais awarded RM30 million each in equitable, exemplary and aggravated damages. 'Public Bank is to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled,' said Justice Hasnah. In delivering the court's decision, she said the appellants had presented financial reports and audited accounts through an expert witness, which were not challenged by Public Bank. Justice Hasnah said the Court of Appeal erred when it decided that the appellants had failed to prove damages, resulting in an award of only RM10,000 in nominal damages. On May 26, the panel overturned the Court of Appeal earlier decision which had granted nominal damages to NFCorp, Mohamad Salleh and three subsidiaries - National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd. Mohamad Salleh is the husband of former Minister of Women, Family and Community Development and Wanita UMNO chief Tan Sri Shahrizat Abdul Jalil. Also on May 26, the Federal Court upheld the decision of the Court of Appeal, which found Public Bank liable for breach of confidentiality. The court ordered Public Bank to pay RM300,000 in legal costs. The court adjourned until today to decide on the amount of damages. NFCorp and four others filed the RM560 million suit against the bank in 2012 over the leakage of their banking details. The High Court dismissed the lawsuit in 2019, but the appellate court in 2023 reversed the decision after allowing their (NFCorp and four others) appeals.
Daily Express
2 days ago
- Business
- Daily Express
Public Bank ordered to pay RM90mil in damages to NFC for confidentiality breach
Published on: Wednesday, June 18, 2025 Published on: Wed, Jun 18, 2025 By: V Anbalagan, FMT Text Size: The Federal Court has ordered Public Bank to pay RM30 million each in equitable, exemplary, and aggravated damages to National Feedlot Corporation and three others for disclosing its accounts to the public. PUTRAJAYA: The Federal Court has ruled that Public Bank must pay RM90 million in damages for violating its statutory duty and breaching confidentiality by disclosing to the public the National Feedlot Corporation's (NFC) accounts, along with those of three affiliated companies. A three-member bench led by Chief Judge of Malaya Hasnah Hashim ordered the bank to pay RM30 million each in equitable, exemplary, and aggravated damages. Advertisement 'Public Bank is to pay 2% interest on the judgment sum effective today until the payment of damages is settled,' she said. Sitting with her were Chief Judge of Sabah and Sarawak Abdul Rahman Sebli and Justice Abu Bakar Jais. The court dismissed Public Bank's appeal on liability last month. The Court of Appeal previously ruled that NFC had failed to prove its losses, resulting in the award of a nominal sum of RM10,000 in damages. Hasnah said the appeals court fell into error in its finding. 'The appellant (NFC) had produced financial reports and audited accounts through its expert witness,' she said, adding that the bank had not called any witnesses to challenge the witness's credibility. As such, the documents relied on by the appellants remained unchallenged, said Hasnah. In their statement of claim, NFC, its chairman Salleh Ismail, and its subsidiaries National Meat & Livestock Corporation Sdn Bhd and Agroscience Industries Sdn Bhd had asked for RM560 million in damages. They sought RM60 million in general damages and a total of RM500 million in aggravated and exemplary damages. Salleh is the husband of former Wanita Umno chief Shahrizat Abdul Jalil. The case dates back to 2012 when then-PKR vice-president Rafizi Ramli obtained confidential banking details which he used to support allegations against NFC regarding a government loan linked to property purchases. Lawyers Shafee Abdullah, Sarah Abishegam, and Farah Mustaffa represented the appellants, while counsel Chan Kok Keong, Poh Choo Hoe, and Tiang Min Hin appeared for the bank. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
3 days ago
- Business
- The Sun
Public Bank to pay RM90mil to NFCorp for confidentiality breach
PETALING JAYA: The Federal Court in Putrajaya has ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp) for breaching its contractual obligation to protect confidential bank account information. A three-member panel of the Federal Court, headed by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, finalized the damages award. According to New Straits Times, This decision follows the court's earlier ruling to dismiss Public Bank's appeal and uphold NFCorp's cross-appeal for exemplary and aggravated damages. The other judges on the bench were Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais. NFCorp, its chairman Datuk Mohamad Salleh Ismail, and three of its subsidiary companies had originally filed a RM560 million lawsuit against Public Bank on May 22, 2012. They alleged that the bank's failure to safeguard their confidential account details led to the information being used by then-PKR vice-president Rafizi Ramli. The leaked information, according to NFCorp, was used to support claims that the plaintiffs had misused a government loan to acquire eight properties in KL Eco City.
The Sun
3 days ago
- Business
- The Sun
Public Bank to pay NFCorp RM90M for Data Breach
PETALING JAYA: The Federal Court in Putrajaya has ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp) for breaching its contractual obligation to protect confidential bank account information. A three-member panel of the Federal Court, headed by Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, finalized the damages award. According to New Straits Times, This decision follows the court's earlier ruling to dismiss Public Bank's appeal and uphold NFCorp's cross-appeal for exemplary and aggravated damages. The other judges on the bench were Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Federal Court judge Datuk Abu Bakar Jais. NFCorp, its chairman Datuk Mohamad Salleh Ismail, and three of its subsidiary companies had originally filed a RM560 million lawsuit against Public Bank on May 22, 2012. They alleged that the bank's failure to safeguard their confidential account details led to the information being used by then-PKR vice-president Rafizi Ramli. The leaked information, according to NFCorp, was used to support claims that the plaintiffs had misused a government loan to acquire eight properties in KL Eco City.
