Salient Facts As Summarized By The Respondent/Plaintiff

[1] The Appellant/1st Defendant and the other two Defendants (namely Tan Bee Kon - 2nd Defendant & Chong Kok Weng - 3rd Defendant in the Court appealed from) had through a Sale and Purchase Agreement dated 15 December 1999 (pp 259-268 record of appeal, hereinafter referred to as "the Agreement" purchased from JT Polymer Sdn Bhd (JT Polymer) a factory known as No 44, Jalan Perdagangan 16, Taman Universiti, 81300, Skudai Johor (the Factory) with the purchase price at RM460,000.00. To finance the purchase of the Factory, the Appellant/1st Defendant together with the other two Defendants had obtained a friendly loan from the Respondent/Plaintiff in the amount of RM92,000.00 and $173,000.00 (equal to RM383, 213.00 at the exchange rate of 1:2.215 at the material time) amounting to RM475,213.00 wherein out of this total amount, RM15,213.00 had been paid to the sol