Affin Bank Berhad V Precision Tube Prod
Malayan Law Journal Unreported/2010/Volume /Affin Bank Berhad v Precision Tube Product (Malaysia) Sdn Bhd & Ors - [2010] MLJU 119 - 9 February 2010
[2010] MLJU 119
Affin Bank Berhad v Precision Tube Product (Malaysia) Sdn Bhd & Ors
HIGH COURT (JOHOR BAHRU)
VERNON ONG LAM KIAT, JC
GUAMAN NO (MT-1) 22-313-2005
9 February 2010
Sivapakiam Krishnan (H. M. J. Shaharom & K. S. Wee) for the plaintiff
Ng Chew Hor (Ng. Fan & Associates) for the fourth defendant
Vernon Ong Lam Kiat, JC
GROUNDS OF JUDGMENT
Affin Bank Berhad (the plaintiff) is suing Kumarasamy A/L Nadarajah (the 4th defendant) is on a guarantee for the sum of RM15,550,000.00 together with interests at 3.25% per annum above the Base Lending Rate on monthly rests from 1.2.2005 and costs. At the trial the plaintiff called Zakaria Bin Wan Saleh (PW1) a bank officer; the 4th defendant gave evidence in his own defence.
The facts as disclosed in the evidence
By a letter of offer dated 23.12.1999 the plaintiff granted to Precision Tube Product (M) Sdn Bhd (the 1st defendant) various banking facilities amounting to RM13,960,000.00. The banking facilities were secured by a legal charge over a factory owned by the 1st defendant, a debenture over all assets of the 1st defendant and a guarantee by its 2 directors Jamer Singh (the 2nd defendant) and Tejinder Raj Singh (the 3rd defendant). By a letter of offer dated 28.4.2000 the plaintiff granted to the 1st defendant an additional banking facility of RM1,590,000.00. By a letter of offer dated 29.6.2000 the plaintiff granted to the 1st defendant a further banking facility of RM7,450,000.00. On 23.8.2000 the plaintiff and the 1st defendant entered into a Facility Agreement relating to the aforesaid banking facilities. On 28.8.2003 the plaintiff restructured the various banking facilities granted to the 1st defendant on the security of a supplementary facility agreement which was executed on 2.9.2003. According to the Supplementary Facility Agreement the existing
[2010] MLJU 119
Affin Bank Berhad v Precision Tube Product (Malaysia) Sdn Bhd & Ors
HIGH COURT (JOHOR BAHRU)
VERNON ONG LAM KIAT, JC
GUAMAN NO (MT-1) 22-313-2005
9 February 2010
Sivapakiam Krishnan (H. M. J. Shaharom & K. S. Wee) for the plaintiff
Ng Chew Hor (Ng. Fan & Associates) for the fourth defendant
Vernon Ong Lam Kiat, JC
GROUNDS OF JUDGMENT
Affin Bank Berhad (the plaintiff) is suing Kumarasamy A/L Nadarajah (the 4th defendant) is on a guarantee for the sum of RM15,550,000.00 together with interests at 3.25% per annum above the Base Lending Rate on monthly rests from 1.2.2005 and costs. At the trial the plaintiff called Zakaria Bin Wan Saleh (PW1) a bank officer; the 4th defendant gave evidence in his own defence.
The facts as disclosed in the evidence
By a letter of offer dated 23.12.1999 the plaintiff granted to Precision Tube Product (M) Sdn Bhd (the 1st defendant) various banking facilities amounting to RM13,960,000.00. The banking facilities were secured by a legal charge over a factory owned by the 1st defendant, a debenture over all assets of the 1st defendant and a guarantee by its 2 directors Jamer Singh (the 2nd defendant) and Tejinder Raj Singh (the 3rd defendant). By a letter of offer dated 28.4.2000 the plaintiff granted to the 1st defendant an additional banking facility of RM1,590,000.00. By a letter of offer dated 29.6.2000 the plaintiff granted to the 1st defendant a further banking facility of RM7,450,000.00. On 23.8.2000 the plaintiff and the 1st defendant entered into a Facility Agreement relating to the aforesaid banking facilities. On 28.8.2003 the plaintiff restructured the various banking facilities granted to the 1st defendant on the security of a supplementary facility agreement which was executed on 2.9.2003. According to the Supplementary Facility Agreement the existing