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MATERIAL LITIGATION Kuala Lumpur High Court Civil Suit No. WA-22NCC-872-12/2025

CIMB GROUP HOLDINGS BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
Kuala Lumpur High Court Civil Suit No. WA-22NCC-872-12/2025

We, CIMB Group Holdings Berhad (“Company”) wish to announce that CIMB Investment Bank Berhad (“CIMB IB”), a 100% (indirectly held) subsidiary of the Company, had on 5 January 2026 been served an Amended Writ of Summons and Amended Statement of Claim re-dated 2 January 2026 in relation to the aforementioned Suit by solicitors acting for the following parties:

 

(i) Credit Guarantee Corporation Malaysia Berhad

(ii) Amanah Raya Berhad

(iii) Syarikat Takaful Malaysia Keluarga Berhad

(iv) Syarikat Takaful Malaysia Am Berhad

(v) Zurich Life Insurance Malaysia Berhad

(vi) Zurich Takaful Malaysia Berhad

(vii) RHB Asset Management Sdn Bhd

(viii) RHB Islamic International Asset Management Berhad

(ix) Maybank Trustees Berhad

(x) Amanahraya Trustees Berhad

(xi) HSBC (Malaysia) Trustee Berhad

(xii) AHAM Asset Management Berhad

(xiii) AIIMAN Asset Management Sdn Bhd

(xiv) OPUS Asset Management Sdn Bhd

 

(collectively, the “Plaintiffs”).

 

1. Details of the Litigation

Parties named in the said Suit as defendants are:

 

(i) MEX II Sdn Bhd (In Receivership)

(ii) Maju Lingkaran Development Sdn Bhd

(iii) Maju Holdings Sdn Bhd

(iv) Tan Sri Abu Sahid Bin Mohamed

(v) Datuk Yap Wee Leong

(vi) Puan Sri Noor Azrina Binti Mohd Azmi

(vii) Mohd Faiq Bin Abu Sahid

(viii) CIMB IB

(ix) TMF Trustees Malaysia Berhad

(x) Crowe Malaysia PLT

(xi) HSS Integrated Sdn Bhd

(xii) Straits Consulting Engineers Sdn Bhd

 

(collectively, the “Defendants”),

 

in relation to Islamic Medium Term Notes under the Shariah principle of Murabahah (“Sukuk Murabahah”) issued in 2016 by the 1st Defendant, MEX II Sdn Bhd (In Receivership), for the construction of the MEX Highway from Putrajaya to KLIA / KLIA 2 (“MEX II Highway”).

 

The Plaintiffs allege that as registered holders, custodians, fund trustees,beneficial owners and/or fund managers and their representatives of the Sukuk Murabahah, they have suffered loss and damage as a result of MEX II Sdn Bhd (In Receivership) having defaulted on the principal repayments and periodic profit payments of the Sukuk Murabahah.

 

As against CIMB IB, the Plaintiffs allege, among others, that as a result of CIMB IB in its various roles of Principal Adviser, Lead Arranger, Lead Manager and Facility Agent for the Sukuk Murabahah having failed to discharge various pre and post-issuance duties and obligations, had resulted in grossly insufficient funds being ring-fenced for the completion of the MEX II Highway.

 

2. Reliefs sought by the Plaintiffs against CIMB IB

As against CIMB IB, the main reliefs sought are as follows:

 

(i) A declaration that CIMB IB is jointly and severally liable with the other Defendants for all losses suffered by the Plaintiffs and/or their beneficiaries and/or their managed funds arising from the purchase of the Sukuk Murabahah;

(ii) Consequently, judgment against each Defendant (including CIMB IB) for the “Dissolution Amount” of the Sukuk Murabahah amounting to RM1,378,113,337.59 as at 3 January 2022 or such other sums as adjudged by the Court, with coupons and compensation as the Court deems just;

(iii) Alternatively, restoring and/or making good to the Plaintiffs its (CIMB IB’s) proportionate share of such losses suffered by the Plaintiffs;

(iv) An account to each Plaintiff of the amount due as at the date of the judgement; and

(v) Interests and costs.

 

3. Operational and Financial Impact

The said Suit commenced against CIMB IB is not expected to have material operational or financial impact on the Company.

 

The Company is confident that CIMB IB has at all material times performed its duties and obligations in its various capacitites in accordance with standards prescribed by law and contractually. CIMB IB will defend its position and has appointed legal counsel to advise and represent it in the said Suit.

 

A case management is fixed on 9 January 2026 before the High Court for this matter. Further announcements will be made on any material developments in relation to this litigation.






Announcement Info

Company Name CIMB GROUP HOLDINGS BERHAD
Stock Name CIMB
Date Announced 05 Jan 2026
Category General Announcement for PLC
Reference Number GA1-05012026-00052