18 Jan 2023
MUTIARA SMART SDN BHD OFISGATE SDN BHD
- Citation
- WA-22NCC-429-09/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-429-09/2020 (Mahkamah Tinggi)
The three advances of RM1,750,000 were loans/advances to the Defendant (and in any event treated by the SSA as advances/loans repayable by the Company); Plaintiff proved entitlement to repayment plus agreed 5% profit (RM87,500) totalling RM1,837,500; Defendant’s counterclaim fails because Defendant is not party to the SSA and Clause 3.2 of the SA vests discretion in Plaintiff regarding funding; counterclaim dismissed and costs awarded to Plaintiff.