Ex-Melaka CM Rahim’s suit for return of RM3mil investment dismissed

2026-01-30 - 04:36

Rahim Thamby Chik filed the suit against The Rain Maker Management Sdn Bhd and MY Premier Trustee Bhd after failing to receive the final return of his investment, amounting to RM37,500. (Bernama pic) KUALA LUMPUR: Former Melaka chief minister Rahim Thamby Chik has lost a High Court lawsuit against a local trust company for the return of a RM3 million investment made in 2018. Justice Arik Sanusi Yeop Johari said the plaintiff failed to prove his case on the balance of probabilities against the defendant, MY Premier Trustee Bhd. The judge also ordered the immediate removal of the Mareva injunction or freezing order on MY Premier’s assets and upheld the firm’s counterclaim for defamation and the wrongful acquisition of the injunction. Assessment of damages for counterclaim and costs is now fixed on April 24. Two years ago, Rahim, 75, filed the suit against The Rain Maker Management Sdn Bhd and MY Premier. Rain Maker has since been wound up and was not represented in court. It was a marketing agent for Asia Cornerstone, while MY Premier is an independent trust company. Rahim entered into an agreement with Asia Cornerstone, which was not named in the lawsuit. Under the terms of the agreement, he transferred the funds to MY Premier, which held the money in trust for Asia Cornerstone. The deal promised a guaranteed return of 15% per annum over two years. He was said to have received 23 returns totalling RM862,500 between 2018 and 2020. However, the final return of RM37,500 was not paid. He filed the suit seeking the return of his total investment amounting to RM3 million, as well as interest and other relief deemed fit by the court. Rahim obtained the Mareva injunction against both defendants but could not proceed against Rain Maker due to the company being wound up. In its defence, MY Premier said it had fulfilled all of its obligations by transferring the funds to Asia Cornerstone, and submitted documentary evidence including bank statements, receipts and letters. It also filed a counterclaim in defamation and for the removal of the Mareva injunction. Lawyers Choo Shi Jin and Firoz Hussein Ahmad Jamaluddin appeared for Rahim while counsel S Raam Kumar acted for MY Premier.