Sapura Resources takes legal action against former MD

PETALING JAYA: Sapura Resources Bhd (SRB), together with its wholly-owned subsidiaries Sapura Aero Sdn Bhd and Aerodome Fife Sdn Bhd, have commenced legal action against former managing director and director Datuk Shahriman Shamsuddin.

In filing with Bursa Malaysia, SRB also named former employees Syed Haroon Omar Alshatrie and Syed Muhammad Hasan Alsagoff, as well as Explorer Group Sdn Bhd as the second, third and fourth defendants respectively, in the High Court suit.

In the suit, SRB is alleging that Shahriman had breached his fiduciary and /or statutory and / or common law and / or equitable duties and / or contractual and / or trust obligations to the company.

Additionally, SRB is alleging that the other three defendants had also breached their fiduciary and / or common law and / or equitable duties and / or contractual and / or trust obligations.

Moreover, SRB is alleging that all four defendants had “conspired to injure” the plaintiffs “whether by lawful and / or unlawful means.” SRB is also alleging that the second, third and fourth defendants had “aided and abetted and / or was an accessory to and /or dishonestly and /or knowingly assisted” Shahriman’s breaches of his duties and / or trust obligations.

Among others, SRB said it is claiming damages for “losses in relation to (but not limited to) the loss of business opportunities (including an initial public offering estimated valuation of RM82.1mil) and /or profit or such other sum as may be assessed and ordered by the court.”

“The Statement of Claim will be filed in accordance with the prescribed Rules of Court, 2012. The company will make the appropriate announcements to Bursa Malaysia as and when there are material developments in relation thereof.”