1. ) FINTERRA GLOBAL PLANTATIONS BERHAD 2. ) SYED HAMID KHALID RASHID 3. ) ELVIRA AVDOVIC v FGP VENTURES SDN. BHD. PENCELAH KHEMLANI SATESH PIHAK TERKILAN FGP VENTURES SDN. BHD.

wa-28ncc-1089-11-2024 High Court (Mahkamah Tinggi) 15 February 2026 • WA-28NCC-1089-11/2024 • 25 min read

9 cases cited (2 SG, 7 foreign)

Catchwords

Company law – Winding up – Interim liquidators – Remuneration – Section 479 Companies Act 2016 – Court determination of fees – Whether entitlement to remuneration established – Basis of assessment – Percentage basis vs time cost basis – Whether time cost appropriate where no asset realization – Principles of fairness and reasonableness – Assessment of charge-out rates – Whether reasonable – Assessment of time spent – Whether adequately particularised – Whether fees excessive – Broad brush reduction of fees – Exclusion of administrative and support staff costs – Whether part of overheads – Section 478(3) Companies Act 2016 – Requirement to furnish security – Whether fees claimable before security given – Post-stay work – Whether remuneration allowed – Scope of interim liquidator’s duties – Whether investigations justified – Court’s discretion to fix reasonable remuneration

Practice Areas

Judges (1)

Suhendran Sockanathan Delivered

Counsel (11)

Aaron Mathews Firm Cheang & Ariff Firm Munhoe Firm Naim, Sa'eed & Afiqah Firm Aaron Mathews Counsel Third Party Janet Sim Xin Tong Counsel Respondent Omar Hakim Dahlan Counsel Third Party Ravi Nekoo Counsel Third Party Sa'eed Khaliq Counsel Petitioner Tong Joe Jye Counsel Respondent Wong Mun Hoe Counsel Respondent

Parties (6)

FGP VENTURES Sdn Bhd Aggrieved Party FGP VENTURES Sdn Bhd Respondent FINTERRA GLOBAL PLANTATIONS BERHAD Petitioner Elvira Avdovic Petitioner Khemlani Satesh Intervener Syed Hamid Khalid Rashid Petitioner

Statutes Cited

Companies Act 1965 (Cap 777)

Companies Act 2016 (Cap 777)

Cases Cited (9)

SG (2)

[2004] SGHC 49 [2015] SGHC 167

UK (1)

[2012] 1 WLR 419

AU (1)

[2017] NSWCA 38

MY (5)

[2005] 7 MLJ 389 [2018] MLJU 2189 [2019] 2 MLJ 306 [2020] MLJU 2517 [2023] 5 MLJ 695

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-28ncc-1089-11-2024)