JUDGMENT

Atan Mustaffa Yussof Ahmad JC:

[1] This judgment concerns the Defendant's application (encl 8) against the Plaintiffs to strike out a Writ action pursuant to O 18 r 19(1) of the Rules of 2012 (" ROC 2012") by the Plaintiffs against the Defendant for a declaration that agreements entered between the Plaintiffs and the Defendant relating to a financing facility given by the Defendant to the 1st Plaintiff are null and void and for other related reliefs.

[2] At the hearing of this application I allowed the Defendant's application with costs of RM5,000.00. This judgment contains the full grounds for my decision.

Brief Facts

[3] The Defendant granted to the 1st Plaintiff an Islamic Financing Facility of RM300,000.00 under the Shariah principle of Commodity Murabahah Term Financing-i ("the CM-i Facility") pursuant to a Letter of Offer dated 22 February 2016 ("the Letter of Offer"). This was further documented by an Asset Sale Agreement dated 10 March 2016 ("the Asset Sale Agreement") together with the Al-Amin Product terms dated 24 February 2016 ("the Al-Amin Product Terms") executed between the Defendant and the 1st Plaintiff. The Letter of Offer, Asset Sale Agreement and Al-Amin Pr