Thursday, December 23, 2010

Sime Darby suing Ahmad Zubir and four others

KUALA LUMPUR: SIME DARBY BHD [] has filed a civil suit against its ex-president and group chief executive Datuk Seri Ahmad Zubir and four others in relation to the Qatar Petroleum Project (QP), the Maersk Oil Qatar Project (MOQ Project) and the project relating to the CONSTRUCTION [] of marine vessels known as the Marine Project.

The other four being sued are Datuk Mohamad Shukri Baharom, Abdul Rahim Ismail, Abdul Kadir Alias and Mohd. Zaki Othman.

In a filing to Bursa Malaysia on Thursday, Dec 23, Sime Darby said it was seeking an order that each of the defendants make restitution in the sum of RM80.51 million, wrongly paid to consultants in the QP Project.

It also asked that Abdul Kadir Alias and Mohd Zaki make restitution in the sum of RM6.6 million wrongly waived with respect to the provision by RNZ Integrated (M) Sdn Bhd of the performance bond in the MOQ Project.

Sime Darby said it was seeking an order that Mohamad Shukri, Abdul Rahim and Ahmad Zubir make restitution in the sum of RM6.2 million being the retention sum wrongly released to RNZ in the MOQ Project.

It also wanted each of the defendants to make restitution in the sum of US$30. 81 million being consultancy fees wrongly paid in the MOQ Project.

Further, it also asked for an order that Ahmad Zubir and Mohamad Shukri make restitution of US$48 million, being the losses suffered as a result of the total failure to deliver the three marine vessels in Project Marine.

The conglomerate also sought for compensation for loss of profit by reason of the failure to deliver the 3 marine vessels in time; as well as aggravated and exemplary damages from each of the defendant.

'The civil suit is filed against the Defendants following breaches of duties owed to Sime Darby and the subsidiaries named in the civil suit.

'The civil suit will have no operational impact on the Sime Darby Group. As for the financial impact, the losses arising from the three projects have been provided for. There are no losses that could arise from these proceedings except an order for payment of costs if Sime Darby or its subsidiaries were unsuccessful in this action or if the Defendants include a counterclaim which was allowed by the Court,' it said.

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Please click on the following links for details of Sime Darby's statement of claim posted on Bursa Malaysia:

Statement of Claim - Part 2 of 2.pdf

Statement of Claim - Part 1 of 2.pdf





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