In a statement to FMT, Shahril expressed optimism about the company’s future.

“Alhamdullillah. I am looking forward to a very positive future for the Sapura group. The settlement will allow the group to move forward with certainty and focus on its operations and stakeholders.

“I appreciate the efforts made by my brother to reach a constructive outcome and wish to put this chapter behind us,” he said.

Justice Leong Wai Hong recorded the withdrawal today after parties confirmed in chambers that the matter had been settled.

Lawyer S Gopal represented Shahriman while Ahmad Redza Abdullah appeared for Shahril.

“The petition has been settled and withdrawn on confidential terms,” Gopal told FMT outside the court after the hearing.

Also present were lawyers Nur Syafinaz Vani and Saw Wei Siang, representing SHSB and its director Rameli Musa, respectively.

Shahril, Shahriman and Rameli were not present in court.

The settlement follows a protracted trial which saw Shahriman and their father, Shamsuddin Abdul Kadir, take the witness stand.

Shahriman had sought to wind up SHSB, the parent entity of more than 40 subsidiaries valued at about RM832 million, including the publicly listed Sapura Resources Bhd.

Shahril and Shahriman each hold a 48% stake in SHSB, with the remaining 4% owned by Rameli.

Shahriman filed the petition on Sept 23, 2024, naming SHSB, Shahril and Rameli as respondents.

In his petition, Shahriman sought the company’s dissolution, claiming there had been an irreparable breakdown in mutual trust and confidence between him and Shahril.

The respondents opposed the petition.