PM’s son to pay RM212,032 over CIMB hire purchase agreement

KUALA LUMPUR: The Prime Minister’s son Mohd Nazifuddin Mohd Najib (pic) has to pay RM212,032 to CIMB Bank Bhd for being a guarantor to a company in a hire purchase car loan agreement.

High Court judge Justice Ahmad Zaidi Ibrahim Monday had dismissed an appeal by Mohd Nazifuddin against the summary judgment obtained by the bank for him to settle the outstanding sum.

Justice Ahmad Zaidi also rejected an appeal by Mohd Nazifuddin, 32, against the refusal of the Sessions Court to strike out the claim against him.

The judge made the order after meeting the parties in chambers. 

Speaking to The Star later, the bank’s lawyer Datuk K.Ganesan said the judge found that there was no error in the finding of facts or law in the judgment of the Sessions Court.

He said the judge ordered Mohd Nazifuddin to pay RM3,000 in costs to the bank.

The appellant was represented by lawyer Justin Voon.

In the statement of claim filed at the Sessions Court on Sept 11 last year, CIMB Bank had named Prima Agri-Products Sdn Bhd and Mohd Nazifuddin as defendants.

The bank, who is the sole plaintiff, claimed that it had agreed to give the hire purchase facility for a BMW X5 car on the company’s request, for the price of RM475,000, according to the agreement signed by the company.

The bank claimed that Mohd Nazifuddin had signed a “guarantor agreement’ dated March 18, 2010 where he had agreed to bear all losses suffered by it due to breach of the agreement by the company.

It contended that the company had paid advance of RM47, 500 and monthly instalments amounting to RM303,623.10 but failed to settle the next payments according to their agreed schedule.

Among others, the plaintiff had sent a notice dated Aug 18 last year to the defendants to terminate the agreement and claim for the outstanding payment.

In an application at the Sessions Court, the bank had sought for RM212,032.11 cash from Mohd Nazifuddin, interests and costs.

On its grounds, the bank said that it had obtained judgment in default of appearance against the company while they said that Mohd Nazifuddin has no merits in his defence and no issues to be tried.

Dissatisfied over the ruling by the Sessions Court, he had filed his appeals at the High Court. – Star Online

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