KUALA LUMPUR: The High Court has postponed the winding-up hearing of Sapura Holdings Sdn Bhd to Wednesday (April 23), as brothers and co-shareholders Tan Sri Shahril Shamsuddin and Datuk Shahriman Shamsuddin engage in last-minute settlement talks.
Presiding Judge Leong Wai Hong granted the adjournment following a request from Shahriman’s counsel, Gopal Sreenevasan, who cited the ongoing negotiations and the desire to avoid cross-examination. However, the judge stressed the case’s legal clarity and warned against further delays if no resolution is reached.
The dispute stems from a winding-up petition filed by Shahriman in September 2024, seeking equitable asset distribution. Shahril, opposing the petition, maintains that Sapura Holdings is not a family-run enterprise. Their father, Tan Sri Shamsuddin Abdul Kadir — Sapura’s founder — supported Shahriman’s view in an affidavit, stating that the company was intended to be jointly managed by both sons.
Shahril and Shahriman each hold a 40.5% stake in Sapura Holdings, while their jointly owned Brothers Capital Sdn Bhd holds 15%. Minority shareholder Datuk Rameli Musa owns the remaining 4% and is aligned with Shahril in disputing the family-company claim.
The case is closely watched due to Sapura Holdings’ significant stakes in listed entities such as Sapura Resources Bhd (51.1%) and Sapura Energy Bhd (11%), as well as investments in rail and luxury watch businesses. At the centre of the brothers’ dispute is the Permata Sapura office development, a joint venture with KLCC Holdings.–THE EDGE
