18 Aug 2022
1. ) Metallurgical Corporation of China Ltd 2. ) MCC Overseas (M) Sdn Bhd 1. ) Malayan Banking Berhad 2. ) Malayan Banking Berhad, Beijing Branch
- Citation
- WA-24NCC-473-04/2022 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-24NCC-473-04/2022 (Mahkamah Tinggi)
The Counter Guarantee incorporated URDG 758 and, on its unambiguous terms, is an unconditional on-demand guarantee; Maybank Malaysia's demand dated 17.8.2020 (based on Maybank IB's demand under the Performance Bond) was valid and enforceable; there was no demand on 7.8.2020 and the SWIFT of 7.4.2022 was an update/reminder, not a fresh demand; plaintiffs' originating summons dismissed.