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HIGH COURT SABAH & SARAWAK KUCHING
KASSIM MOHAMMED MAHRUF & ANOR – Appellant
Versus
PERFECT PEARL SDN BHD & ANOR – Respondent
| Table of Content |
|---|
| 1. plaintiffs' claim and court's decision (Para 1 , 2 , 4 , 5) |
| 2. factual background of the spa and lou (Para 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15) |
| 3. dispute over payment interpretation (Para 16 , 17 , 18 , 19 , 20) |
| 4. plaintiffs' and defendants' arguments (Para 22 , 23 , 24 , 29 , 30 , 31 , 36 , 37) |
| 5. court's interpretation of contract clauses (Para 38 , 39 , 40 , 41 , 42) |
| 6. clarification on payment conditions (Para 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51) |
| 7. final ruling and orders (Para 53 , 54 , 56) |
(Enclosure 1)
Introduction
[1] The Plaintiffs filed an Originating Summons (Encl 1) seeking a total of RM4,296,000.00, representing 20% of the consideration sum, under cl 3.3(iv) of the Sale and Purchase of Shares Agreement (SPA), and RM3,226,062.00, representing 20% of the undertaking sum under the unstamped Letter of Undertaking (LOU), both dated 26 June 2015, against the Defendants.
[2] After reviewing the affidavit evidence and submissions from both parties' counsels, I delivered my decision on 22 November 2024, as follows:
(a) A declaration that the 1st and 2nd Defendants have fully or reasonably fulfilled the terms of clause 3.3(iv)
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