The Shah Alam High Court has dismissed a judicial review application filed by Trivillion Development Sdn Bhd (TDSB) against the Companies Commission of Malaysia (SSM) over the regulator’s rejection of an application to register the “Tianma Memorial Park Scheme”.
According to SSM, the court on Sept 15 ruled in favour of the commission after finding that TDSB was not a party directly affected by SSM’s July 8, 2025 decision rejecting the registration application.
TDSB had sought, among others, a certiorari order to quash SSM’s decision.
The registration application for the memorial park scheme was originally submitted to SSM on May 17, 2022 by Catalyst Advisory and Consultancy, a company appointed to manage the application on behalf of Tianma Memorial Holdings Sdn Bhd.
TDSB, which brought the judicial review action, was the developer and landowner under a joint venture agreement with Tianma Memorial Holdings dated March 1, 2022.
The court found that TDSB lacked the necessary locus standi, or legal standing, to commence the judicial review proceedings because it was not the party directly affected by SSM’s rejection of the scheme registration.
The court also found that the proposed arrangement contained elements of an interest scheme as defined under Sections 2 and 3 of the Interest Schemes Act 2016.
SSM said the court further held that its decision to reject the registration application for failure to meet the prescribed requirements was consistent with the powers granted to the commission under the Interest Schemes Act 2016 and relevant legal provisions.
