SHAHIDAN SHAFIE vs ATLAN HOLDINGS SDN BHD & ANOR

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2015 MarsdenLR 2351

COURT OF APPEAL PUTRAJAYA
SHAHIDAN SHAFIE – Appellant
Versus
ATLAN HOLDINGS SDN BHD & ANOR – Respondent

Table of Content
1. overview of involved parties and their roles. (Para 1 , 4 , 5 , 9)
2. issues of locus standi in statutory breaches. (Para 12 , 13 , 18)
3. interpretation of s 153 sc act and private action. (Para 15 , 17 , 19 , 26 , 29)
4. final determination and dismissal of appeal. (Para 30 , 31 , 32)

David Wong Dak Wah JCA:

Introduction

[1] This is an appeal by the Appellant/Plaintiff against the decision of the High COURT, Kuala Lumpur in which the learned Judge dismissed the Appellant's claims for an order that the Respondents/Defendants jointly and severally make a Mandatory Take-Over Offer to all shareholders of Naluri Berhad (except Danaharta) at an offer price of RM1.98 per ordinary share as per the terms set out in the Securities Commission Act 1993 and the Take-Over Code.

[2] We heard the appeal on 2 July 2015 and reserved our decision to consider the submissions of respective counsel. We have since done that and now give our decision together with grounds.

[3] For ease of reference, the Appellant shall be referred to as the Plaintiff, the 1st Respondent as the 1st Defendant and the 2nd Respondent as the 2nd Defendant.

Background facts

[4] Naluri Berhad (Naluri) was a public l

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2015 MarsdenLR 2351

COURT OF APPEAL PUTRAJAYASHAHIDAN SHAFIE – AppellantVersusATLAN HOLDINGS SDN BHD & ANOR – Respondent

Cases Referred (3)

COURT OF APPEAL PUTRAJAYA
SHAHIDAN SHAFIE – Appellant
Versus
ATLAN HOLDINGS SDN BHD & ANOR – Respondent