KUALA LUMPUR: The High Court today ordered former FGV Holdings Bhd (FGV) chairman Tan Sri Mohd Isa Abdul Samad and its former group president and chief executive officer, Datuk Mohd Emir Mavani Abdullah, to compensate a total of RM3.3 million to the company for wrongful use of two luxury condominium units.
In an online proceedings, Judge Datuk Mohd Arief Emran Arifin ruled that the duo had wrongfully used the Troika condominium units on Persiaran KLCC while Emir had also misused the company cars and petrol benefits.
Isa and Emir were ordered to compensate RM990,502.61 and RM2,322,705.86 respectively to FGV.
The judge said the court found that FGV, as the plaintiff, failed to prove that the acquisition of the condominium units priced at RM12 million, at the material time, was wrongful.
He said Isa and Emir, who were the first and second defendants respectively, did not breach their duties as the purchase of the condominium units was in accordance with the resolution of the board of FGV.
"Secondly, even if I am wrong, the company did not suffer or has not suffered any damages over the acquisition of the units as it is still owned by the plaintiff and no losses have been realised.
"Thirdly, the defendants did wrongfully use the units and wrongfully caused the units to be furnished not in accordance with the procedures of the company.
"They have also put their intrerest in conflict with the company and did not act in the best interest of the plaintiff," he said.
The judge added that Emir had breached his duties by abusing the carpool system and abused the petrol card.
"They both should be liable for damages."
Isa's compensation consists of losses of use of Unit A which amounted to RM221,200; RM295,130 for cost of furnishing; RM184,172.61 for expenses incurred; and RM300,000 exemplary damages as he was the chairman and director of the company.
Emir's compensation was made up of losses of use of Unit B for 11 months and 16 days amounting to RM68,400; RM207,505.18 for cost of furnishing, RM97,591.95 for expenses incurred; RM1,444,371 .63 for cost of pool cars; RM10,837.10 for petrol card and RM500,000 in exemplary damages.
FGV, as the plaintiff through a statement to Bursa Malaysia on Nov 30, 2018, had clarified that the suit filed against the two defendants was related to the purchase of the luxury condo units at Troika, Persiaran KLCC at above market price.
The company said the suit was also related to the abuse of company vehicle and petrol benefit by Emir.
FGV sought damages against the defendants, including RM4.54 million for the total acquisition, use and possession of Troika units, RM3.14 million in relation to the pool of cars and RM10.84 million for petrol benefit against Emir.
In addition, the company sought interest at the rate of five per cent per annum on damages awarded, starting from the date of filing of the suit until the date of full and final settlement.