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Sapura patriarch sues sons for shares, property

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Post time 5-4-2012 02:59 PM | Show all posts |Read mode
from: malaysian insider

KUALA LUMPUR, April 5 — Sapura Group founder Tan Sri Shamsuddin Kadir has filed a suit demanding his two sons return shares and properties worth over RM450 million, The Edge Financial Daily reported today.

Court documents sighted by the daily did not state the reason for demanding the assets from sons Datuk Shahril and Shahriman, including a 15 per cent block in the family’s private investment vehicle, Sapura Holdings Sdn Bhd.

The suit comes as Sapura Group, which has roots in telecommunications, is set to become a regional player in the oil and gas sector with the proposed RM11.85 billion merger between SapuraCrest Petroleum and Kencana Petroleum.

Financial executives familiar with the court dispute said the suit filed in the Shah Alam High Court in late February will not pose any problems to the merger, which is set to create the country’s second largest O&G service provider.

“This is purely an internal family problem. There will be zero impact on the merger,” an executive with close ties to the Sapura family and who is involved in the proposed merger told the Financial Daily.

This is because Brothers Capital Sdn Bhd, the Sapura brothers’ private vehicle, owns 96 per cent of Sapura Holdings, controlling shareholder in the group’s listed entities such as SapuraCrest, Sapura Industrial and Sapura Resources.

Even if Shamsuddin succeeds in his court battle, his 15 per cent block would be no match for the 81 per cent combined interest held by his sons in the event of a shareholder dispute, financial executives close to the situation said.

It is understood that Shahril and his younger brother will file their response to the legal claims made by their father in the coming days.

Shamsuddin, a personal friend of former Prime Minister Tun Dr Mahathir Mohamad, is widely regarded as a poster boy of the National Economic Policy (NEP).

He set up the Sapura group in 1975 and was the driving force behind the group’s transformation into a major player in the local telecommunications sector, before diversifying into auto parts manufacturing and technology training.

Shahril, who joined the company in 1985 before becoming president in 1999, is credited with Sapura’s push into O&G and defence-related industries.

Shahril and Shahriman now run the group after their father retired last year.
Corporate executives and politicians with close ties to the family said the relationship between the father and sons grew distant after Shamsuddin’s wife died in 2004.

Shamsuddin’s relationship with his sons has become more strained since he remarried four years ago.

http://www.themalaysianinsider.com/malaysia/article/sapura-patriarch-sues-sons-for-shares-property/
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Post time 5-4-2012 04:04 PM | Show all posts
hmmm.. dh jd makin komplikated... siannnn....
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Post time 5-4-2012 04:20 PM | Show all posts
apa cerita ni? bini baru cucuk jarum ka?
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Post time 5-4-2012 04:22 PM | Show all posts
Rasanya itulah suspek utama. Ratapan si ibu tiri.
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Post time 5-4-2012 04:28 PM | Show all posts
bagi je lah, lagipun advisor kata that 15% tu tak effect the whole group pon, let him enjoys the reap, lagipun dia yg setup the group..
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Post time 5-4-2012 04:31 PM | Show all posts
from: malaysian insider

KUALA LUMPUR, April 5 — Sapura Group founder Tan Sri Shamsuddin Kadir ha ...
nevberg Post at 5-4-2012 14:59



   mungkin anak2 beliau takut ibu tiri persian or is it lebanese kikis harta bapa beliau?
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Post time 5-4-2012 04:35 PM | Show all posts
orang lelaki ini bila udah merasa faraj fresh memang sanggup gadai harta demi faraj yang sedap yg lebih fresh.
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Post time 5-4-2012 04:46 PM | Show all posts
Lebih kurang kes tokey bus tu je
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Post time 5-4-2012 04:48 PM | Show all posts
aiyoh..org kaya tuntut harta men juta2..

bapak claim balik reta dia from anak2..
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Post time 5-4-2012 04:49 PM | Show all posts
Post Last Edit by abgboroi at 5-4-2012 16:53

tan sri ni ada bini muda walaupun umur dah lanjut...x der pulak masuk harian metro...

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Post time 5-4-2012 05:11 PM | Show all posts
wahhhh
sanggup tuuu saman anak sendiri
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Post time 5-4-2012 06:00 PM | Show all posts
..ni semua agenda halus puak kapeer yang cemburukan kejayaan ummah mulayu.....
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Post time 5-4-2012 06:07 PM | Show all posts
...dah tua .. buat apa lagi harta ....dia ada anak kecik ngan bini baru kot ....
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Post time 5-4-2012 06:14 PM | Show all posts
harap2 xde effect co aku.........
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Post time 5-4-2012 06:21 PM | Show all posts
..ni semua agenda halus puak kapeer yang cemburukan kejayaan ummah mulayu.....
pyropura Post at 5-4-2012 18:00



    kalau tgk company melayu kaya mesti ada org nama Din ehe...Nasimudin...Shamsudin....Mydin...mereka ni semua dikatakan hasil kejayaan NEP...macam cerita RTM 80an dulu PJ...ala ala dallas gitu ehe...
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Post time 5-4-2012 06:22 PM | Show all posts
...dah tua .. buat apa lagi harta ....dia ada anak kecik ngan bini baru kot ....
sayawifenikmie Post at 5-4-2012 18:07



    rasanya tan sri ni tahu mengawal pembiakan....x macam citer2  dalam thread kondom tu ehe
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Post time 5-4-2012 06:49 PM | Show all posts
canga n pyropura memberikan statement bangsat lg keji skali lg.mmg kene la dgn perangai kafir harbi yg dilaknat.
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Post time 5-4-2012 08:48 PM | Show all posts
rasanya tan sri ni tahu mengawal pembiakan....x macam citer2  dalam thread kondom tu ehe
abgboroi Post at 5-4-2012 18:22


citer apa pulak roi?
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Post time 5-4-2012 08:51 PM | Show all posts
itu kan usaha dia... biar lah dia enjoy the fruits of his effort... it's his right....
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Post time 5-4-2012 09:26 PM | Show all posts
tan sri ni ada bini muda walaupun umur dah lanjut...x der pulak masuk harian metro...
abgboroi Post at 5-4-2012 16:49



    mariam parineh nariman rakyat iran kan,, umur 35 tah

sedih aruah pn sri sapura tgk suami ngan anak2 berbalah pasal harta.
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