Public Bank Ordered to Pay RM90 Million by Federal Court Over Confidentiality Breach

RinggitPlus

18th June 2025 - 2 min read

The Federal Court has ordered Public Bank Bhd to pay RM90 million in damages to the National Feedlot Corporation (NFCorp) and four associated entities, including NFCorp chairman Datuk Seri Mohamad Salleh Ismail. The ruling followed a breach of confidentiality involving the disclosure of account details and information about a proposed property purchase at KL Eco City.

The panel, chaired by Chief Judge of Malaya Tan Sri Hasnah Mohammed Hashim and including Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli and Datuk Abu Bakar Jais, awarded:

RM30 million in equitable damages
RM30 million in exemplary damages
RM30 million in aggravated damages

The judgment was based on NFCorp’s audited financial statements, projected income, and financial reports. The court stated that these documents were not rebutted or challenged by Public Bank during the appeal. The bench found that the Court of Appeal had erred in awarding only nominal damages of RM10,000, despite the financial evidence submitted.

Case Background

The original lawsuit was filed at the High Court by NFCorp, Mohamad Salleh, National Meat & Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd. The plaintiffs accused Public Bank of disclosing confidential client information. The High Court initially ruled that Public Bank had not breached its duty of confidentiality.

On August 30, 2023, the Court of Appeal reversed the High Court’s decision and held Public Bank liable, awarding RM10,000 in nominal damages. Both parties appealed to the Federal Court. NFCorp sought higher damages, while Public Bank contested the liability ruling.

In the May 26, 2025 judgment, the Federal Court dismissed Public Bank’s appeal and upheld liability. The court then issued its decision on damages today, June 18.

Case Gained Attention After a Former Politician’s Public Reveal

NFCorp’s legal team, led by Tan Sri Muhammad Shafee Abdullah, had sought RM560 million in damages, including RM60 million in general damages and RM250 million each for exemplary and aggravated damages.

The Court of Appeal had previously found that the High Court did not consider internal inquiry evidence regarding the bank clerk, Johari Mohamad, who was implicated in leaking the documents. The case gained public attention in 2012 when then-politician Datuk Seri Mohd Rafizi Ramli publicly revealed NFCorp’s banking details, which triggered the legal action.

(Source: TheEdge)

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