Noor Hayati Mat J:

Introduction

[1] Plaintiff's cause of action against Defendants was for an alleged breach of Subscription Agreements between Plaintiff and Asia Cornerstone Asset Management Company Limited (Asia Cornerstone). Plaintiff further contended misrepresentation by the 2nd Defendant, resulting in Plaintiff investing in the scheme and not receiving payments as scheduled.

[2] After hearing witnesses from both parties, on the balance of probabilities, I have dismissed Plaintiff's claim with cost to the Defendants.

[3] Plaintiff has now appealed to the Court of Appeal, and my reasons are below.

The Parties

[4] Plaintiff is an individual engaged in various enterprises before his retirement and had participated in several investment schemes.

[5] Plaintiff and the 2nd Defendant have known each other for a period of time, as the 2nd Defendant's brother was previously employed by Plaintiff.

[6] The 1st Defendant is a trustee company incorporated in Malaysia, specializing in trust and fund-related matters.

[7] The 1st Defendant was appointed by Asia Cornerstone to act as a trustee, and the 1st Defendant's role was to facilitate the receipt of investment funds from investors in Mala