JUDGMENT

(Enclosures No 31 & 32)

Johan Lee Kien How JC:

Introduction

[1] On or about 30 July 2015 a sale and purchase agreement ("SPA") was entered into between the plaintiff and the first defendant to purchase the property known as Pajakan Negeri PN 51541, Lot No 11979, Mukim Ampang, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan ("Ampang land"). The purchase price was RM281,718,700 of which:

(i) a deposit of RM28,171,870 ("deposit") was payable upon execution of the SPA; and

(ii) the balance RM253,546,830 ("balance purchase price") was payable within 90 days from the date the SPA becomes unconditional on 20 December 2015 ("completion date"), with an extension of 30 days subject to the payment of interest on 19 January 2016 ("extended completion date").

The second defendant is said to be a person with authority and control over the first defendant. The third defendant is an established "political and corporate personality". He was also a former board member and director of the plaintiff. The fourth defendant is a principal from the legal firm Chan Tse Yuen & Co who was the former legal counsel for the plaintiff.

[2] According to cl 3.1 of the SPA, the deposit was to be paid to the first