AGIBS REVENUE SDN BHD OIB PROPERTIES (CV) SDN BHD

AGIBS REVENUE SDN BHD OIB PROPERTIES (CV) SDN BHD

On the balance of probabilities the Court found Defendant liable to pay RM2,271,905.46 to Plaintiff with 5% p.a. interest from writ filing date because Defendant admitted that sum and supported deductions with documentary debit notes; the Court rejected Plaintiff's claim for the additional RM1,071,561.90 because the deductions related to costs for the whole development (including areas attributable to Plaintiff) and were properly proven by Defendant; Defendant's counterclaims were dismissed; costs awarded to Plaintiff RM18,000 subject to taxation.

Citation
BA-22NCvC-136-04/2022 (Mahkamah Tinggi)
Parties
Plaintiff/appellant: AGIBS REVENUE SDN. BHD.; Defendant/respondent: OIB PROPERTIES (CV) SDN. BHD.
Court
High Court
Jurisdiction
Malaysia
Judgment Date
25 May 2023
Case Number
BA-22NCvC-136-04/2022 (Mahkamah Tinggi)
Procedural Posture
Civil (contract/joint Venture) / High Court Judgment After Full Trial; Appeal to Court of Appeal Noted
Outcome
Judgment for Plaintiff in part; Plaintiff's additional claims dismissed; Defendant's counterclaims dismissed
Legal Topics
Joint Venture Agreement, Entitlement to Development Units Vs Cash, Deductions and Set Off, Counterclaim, Statement of Accounts/disclosure, Interest and Costs
Source Language
Malay/English
Contract Law Property Law Civil Procedure Arbitration Joint Venture Agreement Entitlement to Development Units Vs Cash Deductions and Set Off Counterclaim +2 more

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Parties

AGIBS REVENUE SDN. BHD.

Plaintiff/appellant

OIB PROPERTIES (CV) SDN. BHD.

Defendant/respondent

Procedural Posture

Civil (contract/joint Venture) / High Court Judgment After Full Trial; Appeal to Court of Appeal Noted

Legal Issues

  1. 1 Whether Plaintiff is entitled to RM2,271,905.46 as 30% entitlement under the JV Agreement
  2. 2 Whether Plaintiff is entitled to an additional RM1,071,561.90 alleged to have been wrongly deducted by Defendant
  3. 3 Whether Plaintiff is entitled to a full detailed statement/breakdown of project proceeds and deductions from Defendant

Ratio Decidendi

On the balance of probabilities the Court found Defendant liable to pay RM2,271,905.46 to Plaintiff with 5% p.a. interest from writ filing date because Defendant admitted that sum and supported deductions with documentary debit notes; the Court rejected Plaintiff's claim for the additional RM1,071,561.90 because the deductions related to costs for the whole development (including areas attributable to Plaintiff) and were properly proven by Defendant; Defendant's counterclaims were dismissed; costs awarded to Plaintiff RM18,000 subject to taxation.

Court Disposition

Judgment for Plaintiff in part; Plaintiff's additional claims dismissed; Defendant's counterclaims dismissed

Orders

  • Defendant to pay RM2,271,905.46 to Plaintiff
  • Interest at 5% per annum on RM2,271,905.46 from date of filing of writ until full settlement