Kota Kinabalu: Sabah Forest Industries Sdn Bhd (SFI) failed to obtain leave to appeal to the Federal Court against a Court of Appeal decision affirming that the company was lawfully wound up and hopelessly insolvent.
Federal Court three-member panel chaired by Chief Judge of Malaysia Datuk Seri Panglima Wan Ahmad Farid Wan Salleh, Datuk Rhodzariah Bujang and Datuk Mohd Nazlan Mohd Ghazali on Wednesday unanimously dismissed SFI’s application for leave to appeal against the Court of Appeal’s Sept 10, 2025 decision, with costs of RM40,000, after hearing oral submissions from Sabah Development Bank Bhd, which was an Intervener in the proceedings.
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“SFI failed to show that an appeal to the Federal Court involved a novel question of law or one of public importance requiring a decision of Malaysia’s apex court.
“Rather, SFI’s grounds merely involved the application of settled law to the unique facts of its case.
“Therefore, the Federal Court did not agree that there was any novel question of law or public advantage that required clarification by the Court.
“SFI was almost two years late in serving its Notice of Appeal on Sabah Development Bank and therefore had its appeal in the Court of Appeal struck out,” said counsel Tengku Datuk Ahmad Fuad, who acted for Sabah Development Bank Bhd as the first intervener.
“As far as the issue of SFI being a wound-up company is concerned, the matter is now settled once and for all.
“The time has come for SFI’s assets to be liquidated and its creditors paid,” Fuad said.
SFI has also had its timber concessions cancelled by the State Government.
SFI, as appellant was represented by counsel S. Vanugopal and J. Marimuttu, while respondent, Lee Hoon Hoo Transport, was represented by counsel Cindy Han.
Syarikat Segalong Sdn Bhd, the second intervener, was represented by counsel Azimi Yahya.
