Tussle over Syed Kechik's estate to be heard on Aug 13

WEALTH PRESERVATION

KUALA LUMPUR: The feud over the administration of the RM400-million estate of the late Tan Sri Syed Kechik Syed Mohamed Al-Bukhary among his children will be heard by the High Court on Aug 13.

Judicial Commissioner Anantham Kasinather set the date in chambers after granting an application by Syed Kechik's only son, Syed Gamal, to withdraw his bid to strike out an originating summons filed by his younger sisters, Puan Sri Sharifah Zarah and Sharifah Munira.

Syed Gamal, 45, a cyber cafe owner, is Syed Kechik's son from his first wife, Zainab alias Eshah Abdullah. Syed Kechik divorced Zainab when Syed Gamal was five.

Sharifah Zarah, 42, and Sharifah Munira, 44, are Syed Kechik's daughters from another wife, Puan Sri Sofiah Moo Abdullah. They are directors of Syed Kechik Holdings Sdn Bhd (SKH).

Syed Gamal had informed the court by letter two days ago that he was withdrawing the application but did not give any reason for doing so, said lawyer Datuk N. Vijay Kumar who is representing the sisters. Syed Gamal was ordered to pay RM6,500 as legal costs to them within 14 days.

On Aug 13, the court will hear the originating summons filed by SKH and the two sisters against Syed Gamal on Nov 9 last year.

In response to a press statement by Syed Gamal over the case, Sharifah Zarah today issued a statement via her lawyer stating that there was no dispute that Syed Gamal was a beneficiary of the estate.

But he should allow the court to decide instead of making press statements and withdrawing matters at the last minute, she said.

Sharifah Zarah said there was a distinction between their late father's estate and SKH because, at the time of his demise last year, Syed Kechik did not hold any equity in SKH.

Any shares in the company belonging to Syed Kechik, in any event, can only be transferred to the administrator of his estate and nobody else, under the Memorandum and Articles of Association of SKH, she said.

She said Syed Gamal was given every opportunity to apply to court to be appointed the company administrator but he voluntarily withdrew his application to be appointed co-administrator.

In their originating summons, the sisters are seeking a declaration that Syed Gamal had no rights or interests in SKH's assets until the completion of the administration and distribution of their father's estate.

They want an order to prevent Syed Gamal or his agents from accessing and interfering with the assets, records, accounts and affairs of the company.

They also want to prevent Syed Gamal from interfering in the execution of their duties and powers as the directors of SKH and all other corporate matters, including transfer and disposal of SKH shares.

On Jan 15, Sharifah Zarah and Sharifah Munira obtained an interim injunction to prevent Syed Gamal from interfering in the company's affairs pending the disposal of the originating summons at the High Court.

Syed Gamal obtained an ex-parte injunction from the Syariah Court on Sept 14 last year to stop his 44 per cent stake in the company from being sold or liquidated.

On Nov 11 last year, the Syariah Appeal Court affirmed the decision after dismissing the appeals of Sharifah Zarah and Sharifah Munira.

The family saga started after Syed Kechik died in April last year at the age of 81, without leaving a will.

He was the father-in-law of Al-Bukhary Foundation chairman Tan Sri Syed Mokhtar Al-Bukhary, a billionaire listed as the eighth richest person in the country. -- BERNAMA