Why did Tan Sri Halim Saad lose his final RM1.8b suit appeal?

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Tan Sri Halim Saad's Final Appeal for RM1.8 Billion Civil Suit Dismissed

Tan Sri Halim Saad's final attempt to reinstate his RM1.8 billion civil suit against Khazanah Nasional Berhad and two other parties has been unsuccessful. The Federal Court denied him leave to proceed with his appeal, upholding the High Court's decision to strike out the suit in 2013 due to it being filed outside the six-year limitation period stipulated by the Limitation Act 1953. This ruling follows the Court of Appeal's dismissal of his appeal the previous year.
Suit Struck Out for Exceeding Time Limit

The High Court initially struck out Halim Saad's civil suit on October 31, 2013. The primary reason for this decision was that the suit had been filed beyond the six-year statutory time frame allowed under the Limitation Act 1953. This legal principle restricts the period within which legal actions can be initiated after a cause of action arises.
Federal Court Denies Leave to Appeal

The Federal Court's decision to deny Halim Saad leave to appeal was based on his failure to meet the threshold requirements outlined in Section 96 of the Courts of Judicature Act 1964. This section sets specific criteria that must be satisfied for an appeal to be heard at the Federal Court level, and Halim Saad's application did not meet these criteria.
Claims Against Khazanah and Others

Halim Saad had initiated the lawsuit against Khazanah Nasional Berhad, former minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop, and the Government of Malaysia. He sought to recover over RM1.8 billion in compensation related to his sale of shares in Renong Berhad. His claim alleged that Nor Mohamed Yakcop had induced him to agree to the deal for his departure from Renong and United Engineers (M) Bhd (UEM).
Specific Damages Sought

The tycoon's claim included RM1.3 billion in general damages for an alleged breach of the Renong purchase obligation. Additionally, he sought RM508 million, representing the value of the paid-up capital of Kualiti Alam Sdn Bhd, to cover his losses incurred from rescuing Fleet Group. Halim Saad also sought damages for alleged fraudulent misrepresentation.

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Why did Tan Sri Halim Saad lose his final RM1.8b suit appeal?

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