Raja Ahmad Mohzanuddin Shah J:

Preliminary

[1] In this action, the plaintiffs are seeking declarations and consequential reliefs to the effect that 90,000 shares in the company known as Muara Emas Sdn Bhd ("the company"), which are currently being held by the first and second defendants in the total number of 60,000 and 30,000 shares respectively, are held on trust by the defendants on behalf of the plaintiffs.

[2] Accordingly, the plaintiffs claim, inter alia, that the two (2) Trust Deeds between the plaintiffs and the defendants, which supposedly prove that the defendants are holding the plaintiffs' shares in trust, are invalid, and that the plaintiffs are the beneficial and valid owners of the shares. Also, the plaintiffs are seeking that the defendants transfer the shares to them, that all relevant documents be executed for the transfer, as well as general, exemplary and aggravated damages for breach of trust, fraudulent misrepresentation, and emotional distress.

[3] On the other hand, the defendants claim that the Trust Deeds between the plaintiffs and the defendants, which allegedly prove the defendants are holding the plaintiffs' shares in trust, are invalid. The defenda