PUTRAJAYA — Malaysia’s Court of Appeal has confirmed a RM3.4 million financial liability against Datuk Badlisyah Abdul Ghani, the former group chief executive officer of Majlis Amanah Rakyat Corporation Sdn Bhd (MARA Corporation), after a three-member appellate bench dismissed his appeal on August 17, 2026 and affirmed the earlier High Court ruling in full.
Appellate Bench Finds No Grounds for Interference, Affirming High Court’s RM3.4 Million Award
The Court of Appeal’s three-judge panel — comprising Justices Datuk Wong Kian Kheong, Datuk Ahmad Kamal Md Shahid, and Datuk Ahmad Fairuz Zainol Abidin — dismissed Badlisyah’s appeal without qualification. In the grounds of judgment dated August 12, 2026, Justice Ahmad Kamal stated that the court found “no appealable error warranting any appellate interference” in the High Court’s decision.
Justice Ahmad Kamal held that the High Court judge had correctly allowed MARA Corporation’s claim after evaluating contemporaneous documents and the oral evidence of witnesses. Badlisyah was additionally ordered to pay RM50,000 in legal costs on top of the substantive judgment sum.
Timeline of Hiring Conduct: 25 Employees Brought On Within Two Weeks of Badlisyah Taking Office
The central finding underpinning the RM3.4 million judgment relates to the speed and manner in which the 25 employees were hired. Badlisyah was appointed MARA Corporation’s group CEO on September 8, 2020. The 25 hires were completed within approximately two weeks of that date — a period the Court of Appeal described as raising “grave suspicion” given its timing and haste.
Justice Ahmad Kamal wrote that “the timing, haste and surreptitious manner of the hiring of 25 employees could not have been made within the reasonable scope of carrying on the business of MARA Corporation in good faith.” As group CEO, Badlisyah was required to bring the hiring of those employees to the attention of the Board of Directors for approval before proceeding. He did not do so. He was subsequently suspended from duty on November 19, 2020 — just over ten weeks after his appointment.
Breach of Contractual, Fiduciary, and Statutory Duties Established Across Two Court Levels
MARA Corporation’s civil suit against Badlisyah alleged multiple distinct breaches: the unauthorised hiring of 25 employees without Board of Directors approval, and misrepresentation to the Board Nomination and Remuneration Committee (BNRC) in connection with four of those employees. Both the High Court and the Court of Appeal accepted these allegations as substantiated by the evidence.
On May 20, 2024, the High Court ordered Badlisyah to pay two separate sums — RM2,728,673.82 and RM739,541.60 — to MARA Corporation, and further directed him to indemnify the company against expenses arising from Industrial Relations actions involving the former employees hired during his brief tenure. The appellate court found no basis to disturb any element of that order.
Justice Ahmad Kamal concluded that Badlisyah had “failed to discharge his duties in the best interest of MARA Corporation as the group CEO through his conduct,” a finding that the appellate bench endorsed without modification.
Financial Impact on MARA Corporation Confirmed as Direct Consequence of the Unauthorised Hires
The Court of Appeal expressly agreed with the High Court’s finding that the hiring of the 25 employees had caused a quantifiable financial impact on MARA Corporation. The combined judgment sum of approximately RM3.4 million — comprising the two principal award amounts of RM2,728,673.82 and RM739,541.60 — reflects both direct remuneration costs attributable to the unauthorised hires and associated liabilities arising from subsequent Industrial Relations proceedings involving those employees.
The appellate court’s endorsement of the financial impact finding closes the factual record on this point. Badlisyah’s failure to obtain Board of Directors approval before proceeding with the 25 hires was treated by both courts as the operative cause of the financial harm to the state-linked corporation.
What Happened in the MARA Corp CEO Case: Key Facts
Who is Datuk Badlisyah Abdul Ghani? Datuk Badlisyah Abdul Ghani is the former group chief executive officer of Majlis Amanah Rakyat Corporation Sdn Bhd (MARA Corporation). He was appointed to that role on September 8, 2020, and was suspended from duty on November 19, 2020 — approximately ten weeks after taking office.
Why was Badlisyah ordered to pay RM3.4 million? The High Court found that Badlisyah breached his contractual, fiduciary, and statutory duties as group CEO by hiring 25 employees without the required approval of the MARA Corporation Board of Directors, and by misrepresenting information to the Board Nomination and Remuneration Committee (BNRC) regarding four of those employees. The Court of Appeal upheld that finding in full on August 17, 2026.
How much must Badlisyah pay in total? Badlisyah is required to pay RM2,728,673.82 and RM739,541.60 to MARA Corporation — totalling approximately RM3.4 million — and must indemnify MARA Corporation against expenses arising from Industrial Relations actions involving the former employees. He must also pay RM50,000 in legal costs to MARA Corporation.
When were the 25 employees hired? The 25 employees were hired within approximately two weeks of Badlisyah’s appointment as group CEO on September 8, 2020. The Court of Appeal described the speed and manner of the hiring as raising “grave suspicion” and inconsistent with acting in good faith in the best interests of the company.
What did the Court of Appeal decide on August 17, 2026? A three-judge Court of Appeal bench comprising Justices Datuk Wong Kian Kheong, Datuk Ahmad Kamal Md Shahid, and Datuk Ahmad Fairuz Zainol Abidin dismissed Badlisyah’s appeal, found no appealable error in the High Court’s decision, and affirmed the RM3.4 million judgment together with the RM50,000 costs order against Badlisyah.
When did the High Court first issue its ruling? The High Court issued its judgment against Badlisyah on May 20, 2024, ordering the two payment sums totalling approximately RM3.4 million and the indemnity against Industrial Relations-related expenses. The Court of Appeal’s August 17, 2026 ruling confirms that judgment stands.
What duties did the court find Badlisyah had violated? The courts found that Badlisyah violated his contractual duties, fiduciary duties, and statutory duties as MARA Corporation’s group CEO. Specifically, he failed to act in the best interest of the company and bypassed the mandatory Board of Directors approval process for the hiring of 25 employees.
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