Taib’s son has about RM1bil in assets in Malaysia, Syariah Court hears
KUALA LUMPUR: A Syariah High Court here heard that Cahya Mata Sarawak Berhad director Datuk Seri Mahmud Abu Bekir Taib owns between RM916,073,565 and RM1.34bil assets in Malaysia.
This was revealed by his former wife Shahnaz A. Majid in the trial of her matrimonial claim as a divorced settlement.
Shahnaz, 50, said the assets comprised of four components - his shares in 20 audited companies out of 49 companies and four oil palm estate lands in Sarawak owned by four companies where he was among the major shareholders.
She explained that the four companies were Bella Magic Sdn Bhd, Essential Straits Sdn Bhd and Log Oak Promotions Sdn Bhd where Mahmud had 47.5% shares each and 59.58% shares in Titanium Management Sdn Bhd.
She said the other two assets were a two-storey bungalow in Bukit Tunku owned by Ivy Craft where he has 50% of the shares and inheritance from Mahmud's late mother Puan Sri Laila Taib.
"Mahmud's shares in the 20 companies totalling RM219,682,315; four lands valued from RM636, 428, 373 to RM1,055,279,097; the two-storey bungalow with swimming pool priced at RM9mil and inheritance from his late mother RM50,962,877," she said.
Shahnaz was giving her testimony during examination-in-chief by her counsel Dr Rafie Mohd Shafie before Syarie judge Mohd Karim Abdul Wahab on Friday.
The older sister of Jazz queen Datuk Sheila Majid is claiming RM400mil, of which RM300mil as matrimonial property as part of the divorce settlement.
Shahnaz is also claiming 50% of all assets owned by Mahmud who is the son of Sarawak chief minister Tan Sri Abdul Taib Mahmud, including luxury cars, houses in various locations, land in Sarawak and shares.
She said among the companies Mahmud had shares in were Sarawak Capital Sdn Bhd, Pehin Sri Heritage Sdn Bhd, Graceful Design Sdn Bhd, Bumitime Xtra Sdn Bhd, Espatial Resources Sdn Bhd and Pelitamas Bumi Sdn Bhd.
She said the inheritance was based on the Islamic Inheritance Law (faraid), Mahmud's father shall inherit 25% of his mother's assets and the remaining 75% is to be distributed among the four children.
Shahnaz added that the details were based on an audit report by several qualified accountants who were appointed by her.
Counsel Dr Rafie and Akbardin Abdul Kader appeared for Shahnaz while counsel Datuk Zainur Rijal Abu Bakar and Saadiah Din acted for Mahmud.
The hearing continues on Nov 6.
