Sapura gets interim stay of discovery in Shahril’s suit against Rafizi

Sapura gets interim stay of discovery in Shahril’s suit against Rafizi

Company not required to disclose documents relating to ex-CEO’s remuneration package pending disposal of stay application.

Sapura Energy Bhd has obtained an interim stay of a court order directing the company to disclose details of remuneration and incentives paid to former CEO Shahril Shamsuddin. (File pic)
PETALING JAYA:
Sapura Energy Bhd has successfully obtained an interim stay of a court order directing the company to disclose remuneration and incentives paid to former CEO and co-founder Shahril Shamsuddin.

The temporary stay was granted while awaiting the hearing of an application to stay the discovery order pending an appeal to the High Court, according to The Edge.

As a result, Sapura will not be required to disclose details of Shahril’s remuneration package for the time being.

Meanwhile, sessions court judge Lailatul Zuraidi Harron has directed parties in the suit to exhaust all affidavits and file their respective written submissions in the stay application.

The judge has fixed June 28 to deliver her decision on the application.

On April 25, Lailatul had granted economy minister Rafizi Ramli an order enabling him to obtain third party discovery of documents from Sapura relating to the salary and allowances paid to Shahril.

Shahril had commenced a defamation suit against Rafizi in May 2022 for allegedly libellous statements the Pandan MP and PKR deputy president made concerning Shahril’s remuneration.

The suit related to statements Rafizi was said to have published in three articles via his social media accounts.

Rafizi wrote the articles after former prime minister Najib Razak had pleaded that the government save Sapura by injecting more funds into the ailing oil and gas group.

Shahril had taken offence to a claim by Rafizi that Sapura’s majority shareholders, including Shahril, had taken out a total of RM1.33 billion, made up of RM1.1 billion in salaries and the remainder in other payments and dividends.

Rafizi claimed this was triple the sum of RM440 million which the company had paid out to the remaining shareholders in dividends.

Shahril had denied the allegations, with his lawyers stating that it was publicly known that his total remuneration between 2013 and 2021 was RM486.25 million.

In his defence, Rafizi claimed he was justified in raising the matter, and that Shahril’s remuneration when he served as the CEO was not commensurate with the company’s financial performance.

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