JUDGMENT

Leonard David Shim JC:

[1] The Plaintiff's claim against the Defendant is for the refund of the sum of RM1,000,000.00, being the amount paid by the Plaintiff to the Defendant pursuant to a Letter of Intent dated 24 August 2018 executed between the Plaintiff and the Defendant. The Plaintiff also claims interest on the said RM1,000,000.00 at the rate of 5% per annum from the date of the Writ until the date of full payment and costs on a full indemnity basis.

[2] At the Trial of this matter, the parties called one witness each:

(i) PW1 - Chua Eng Pu (Director of the Plaintiff).

(ii) DW1 - Lee Yeow Cheng (Director of the Defendant).

Background Facts

[3] The mainstay of the Plaintiff's claim is the Letter of Intent dated 24 August 2018 between the Plaintiff and the Defendant ("LOI").

[4] It is not in dispute that the LOI was executed by the parties' respective directors. This was stated by PW1 in his evidence-in-chief and admitted by DW1 in cross-examination.

[5] 2 portions of the LOI were highlighted to the Court. Firstly, the subject of the LOI which states:

"RE: LETTER OF INTENT TO JOINT VENTURE BETWEEN MEGACITY PROPERTY SDN BHD (OR ITS NOMINEES) AND ECO EVERGREEN SDN BHD FOR THE PROJ