JUDGMENT

Aliza Sulaiman JC:

Introduction

[1] 22 Plaintiffs as above named filed this civil suit which is premised on the alleged negligent misstatements made by the Defendant through its Chief Executive Officer, Mr Aaron Sim Chin Chye [Defendant's Witness ('DW') 1] and its representatives at a seminar held in mid- 2013 where the Defendant had introduced a project known as "Bosque Residencial Project Brazil" at No Lugar Guajiru, Sao Goncalo do Amarante, Rio Grande Do Norte ('said Project'), constructed by the EcoHouse Group, to the Plaintiffs.

[2] The Plaintiffs entered into Sale and Purchase Agreements ('SPA') with the vendor cum developer, EcoHouse Brazil Construcoes Ltda, a company incorporated in Brazil ('Developer'), and Escrow Agreements with Derrick Wong & Lim BC LLP ('Escrow Agent'), a legal firm in Singapore on different dates in 2013 for the purchase of their respective units in the said Project.

[3] Unfortunately, the Plaintiffs did not obtain the return on their investments as they had expected and thus, the present claim for, inter alia, the purchase price of the units which the Plaintiffs had invested in the said Project.

[4] After hearing the testimony of 21 witnesses for t