In essence, Nizam had sought to hijack the contracts from the three companies — Bestinet Sdn Bhd, Tass Tech Sdn Bhd and Synerflux Sdn Bhd — just as they were about to ink contracts with the government. JR Resources Holdings Sdn Bhd, Mohd Zaki Jaafar and SH Yahya SH Mohamed are shareholders of the three companies and plaintiffs in the case. The cause of action undertaken by the plaintiffs in seeking the return of the shares included duress, economic duress, coercion, illegality, failure of consideration, breach of condition precedents, frustration and unjust enrichment. “I was told that Bestinet was having difficulty implementing and strategising the project for the Malaysian government,” Nizam testified in court. “In fact, in mid-2017, Nizam raised his game further by incorporating a company bearing the name FWCMS Sdn Bhd.

Source: The Edge Markets September 15, 2021 09:00 UTC