PUTRAJAYA — The Federal Court today ordered Public Bank Berhad to pay RM90 million in damages to National Feedlot Corporation (NFCorp), its chairman Datuk Mohamad Salleh Ismail, and three of its subsidiary companies for breaching a contract to safeguard the confidentiality of their bank accounts.
A three-member bench, comprising Chief Judge of Malaya Datuk Seri Hasnah Mohammed Hashim, Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli, and Federal Court judge Datuk Abu Bakar Jais, awarded RM30 million each in equitable, exemplary, and aggravated damages.
“Public Bank is to pay two per cent interest per annum on the judgment sum from today until the payment of damages is settled,” Justice Hasnah said in delivering the court’s decision.
She noted that the appellants had submitted financial reports and audited accounts through an expert witness — evidence that was not contested by Public Bank, Bernama reported.
Justice Hasnah further stated that the Court of Appeal had erred in concluding that the appellants failed to prove their losses, which led to an award of only RM10,000 in nominal damages.
On May 26, the Federal Court overturned the earlier Court of Appeal ruling that had granted only nominal damages to NFCorp, Mohamad Salleh, and the three subsidiaries — National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd.
Mohamad Salleh is the husband of Tan Sri Shahrizat Abdul Jalil, the former Women, Family and Community Development minister and former Wanita Umno chief.
Also on May 26, the Federal Court upheld the Court of Appeal’s finding that Public Bank was liable for breaching confidentiality. The bank was ordered to pay RM300,000 in legal costs. The matter was then adjourned to today for the determination of damages.
NFCorp and the four companies had filed a RM560 million lawsuit against the bank in 2012 over the unauthorised disclosure of their banking information. The High Court dismissed the suit in 2019, but the Court of Appeal reversed that decision in 2023, allowing their appeals.
However, the appellate court ruled that while NFCorp and the others had succeeded in proving liability, they had not established the extent of damages, resulting in the nominal RM10,000 award.
In their suit, NFCorp and the four companies alleged that the bank had breached confidentiality by allowing details of their banking transactions to be disclosed by then PKR vice-president Rafizi Ramli.
They claimed that the breach, which contravened the Banking and Financial Institutions Act, caused serious and irreparable harm to their business reputation and credibility.
Following the court’s decision, Mohamad Salleh expressed his gratitude, saying his family had endured 13 years of hardship because of the case.
In today’s proceedings, NFCorp and the four others were represented by lawyer Tan Sri Muhammad Shafee Abdullah, while Public Bank was represented by lawyer Chan Kok Keong. — June 18, 2025
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