PETALING JAYA : Maybank Singapore Ltd has filed a suit against the husband and children of former women, family and community development minister Shahrizat Abdul Jalil for defaulting on two housing loans, amounting to close to RM8 million.
Mohamad Salleh Ismail, chairman of National Feedlot Corp Sdn Bhd and his children Wan Shahinur Izran and Wan Izzana Fatimah Zabedah were all named as defendants in the suit, which was filed at the High Court registry in Kuala Lumpur on July 19.
According to The Edge Markets, a statement of claim said Maybank Singapore was seeking the court’s judgement on the outstanding S$2.53 million (RM7.9 million) that the defendants owed the bank.
The suit alleged that all three defendants have failed, ignored and/or neglected to pay the sum demanded, which has resulted in the bank pursuing the matter through the Malaysian courts.
For the first housing loan facility, Maybank Singapore granted a loan of S$4.37 million in 2009 to the defendants for the purchase of an apartment in Orchard Scotts.
However, the three defendants defaulted on the monthly payment of S$7,225, with S$3.94 million being the outstanding amount due as at June 22, 2018 inclusive of accrued interest.
After the defendants failed to pay the sum demanded, Maybank Singapore exercised its rights to repossess and sell the property through an auction at the price of S$3.2 million.
The value of the sale, however, was insufficient to settle the full outstanding amount and as of Dec 29 last year, S$1.37 million remained due.
For the second housing facility, Maybank Singapore granted a loan of S$5.38 million in 2010 to Mohamad Salleh Ismail and Wan Shahinur Izran to finance the purchase of a condominium in Marina Bay.
Once again, they defaulted on the monthly payment of S$8,700, with S$5.06 million being the outstanding amount due as of June 4, 2018.
Maybank Singapore then exercised its rights to repossess and sell the property through a private treaty sale at the price of S$4.68 million, which left a remaining S$1.17 million due.