Public Bank Loses Final Appeal

Public Bank Loses Final Appeal in RM560 Million NFCorp Lawsuit

Malaysia, May 26, 2025 — Public Bank Loses Final Appeal: In a significant ruling, the Federal Court has dismissed Public Bank Berhad’s final appeal in a high-stakes RM560 million lawsuit filed by the National Feedlot Corporation (NFCorp) and four others, marking a dramatic conclusion to a legal battle that began over a decade ago. The court upheld the Court of Appeal’s decision, finding the bank liable for breaching confidentiality by leaking sensitive banking details. This verdict has sent ripples through Malaysia’s financial and legal communities, with Public Bank now ordered to pay RM300,000 in costs to NFCorp and its co-plaintiffs.

The case stems from a 2012 lawsuit initiated by NFCorp, its executive chairman Datuk Mohamad Salleh Ismail, and three subsidiaries—National Meat and Livestock Corporation Sdn Bhd, Agroscience Industries Sdn Bhd, and Real Food Company Sdn Bhd. They accused Public Bank of unlawfully disclosing their confidential account information, causing significant financial and reputational damage. The plaintiffs sought RM60 million in general damages, alongside RM250 million each in aggravated and exemplary damages, reflecting the severity of the breach.

The legal journey has been arduous. In 2019, the High Court initially dismissed NFCorp’s claims, but the Court of Appeal reversed this in August 2023, ruling in favor of NFCorp and its subsidiaries. The appellate court also overturned an earlier decision to award only nominal damages, paving the way for today’s ruling. The Federal Court, presided over by Justice Hasnah Mohammed, delivered its decision via Zoom, stating, “We are of the opinion that common law is not applicable in this case.” This pivotal statement underscored the court’s stance on the unique nature of the breach.

Also Read : Affin Bank-AMMB Merger

Represented by prominent lawyer Tan Sri Muhammad Shafee Abdullah, NFCorp expressed relief at the outcome, which they see as a vindication of their fight for justice. The exact amount of damages will be finalised on June 18, leaving room for further anticipation. For Public Bank, this ruling poses a significant financial and reputational challenge, raising questions about data protection practices in Malaysia’s banking sector.

This case highlights the critical importance of safeguarding client confidentiality, a cornerstone of trust in banking. As the dust settles, stakeholders await the final damages figure, which could set a precedent for future cases. For now, NFCorp and its subsidiaries stand triumphant, their perseverance rewarded after a 13-year legal odyssey.