KUALA LUMPUR: The Prime Minister’s son has to pay RM212,032 to CIMB Bank for being a guarantor to a company in a hire purchase car loan agreement.
Yesterday, High Court judge Justice Ahmad Zaidi Ibrahim dismissed an appeal by Mohd Nazifuddin Mohd Najib against the summary judgment obtained by the bank for him to settle the amount.He also rejected an appeal by Mohd Nazifuddin, 32, against the refusal of the Sessions Court to strike out the claim against him.
In the statement of claim filed at the Sessions Court on Sept 11 last year, CIMB Bank named Prima Agri-Products Sdn Bhd and Mohd Nazifuddin as defendants.
The bank claimed that it had agreed to give a hire purchase facility for a BMW X5 car, upon the company’s request, for a price of RM475,000.
Mohd Nazifuddin, the bank said, had signed a guarantor agreement dated March 18, 2010.
It contended that the company had paid an advance of RM47,500 and monthly instalments amounting to RM303,623.10, but failed to settle the next payment.