[1] This is a writ action for declaratory and injunctive reliefs in respect of a judgment of the Court which performance the plaintiff construed would tantamount to a breach of a statutory provision.

[2] Following completion of trial, I dismissed the claim, on account primarily of res judicata. This judgment contains the full reasons for my decision.

Key Background Facts

The Parties

[3] The plaintiff, Malpac Holdings Berhad ("MHB") is a locally incorporated public company listed on the Main Board of Bursa Malaysia. It is an investment holding company. The first defendant, Malpac Capital Sdn Bhd ("MCSB") is a private company which is wholly owned by MHB.

[4] MCSB was previously primarily involved in the securities broking and later, lending business. One of its principal borrowers was Techno A