Chao Hick Tin J:

The 1st plaintiff was and is the owner of the Tiger Brand trade marks and their business includes, inter alia , the manufacture, sale and distribution of the Tiger Balm products in various parts of the world.

On 22 October 1971, a joint venture agreement (JVA) was entered into between the 1st plaintiff, Chia Holdings (HK) Ltd. and the 1st defendant with a view to re-organizing and expanding the Tiger Brand trade marks business of the 1st plaintiff. Pursuant to the JVA, two companies were incorporated, one in Singapore, Haw Par Eng Aun Tong Pte. Ltd. (HPEAT)and the other in Hong Kong, Haw Par Tiger Balm International Ltd. (HTPBI) (hereinafter collective called the "joint companies"). The 1st plaintiff and Chia Holdings (HK) Ltd. held equal shares in the joint companies. In accordance with the JVA, the 1st defendant was appointed the Managing Director and Chief Executive of the joint companies and is still holding that appointment.

The 1st plaintiff subsequently transferred its shares in the joint companies to the 2nd plaintiff. Chia Holdings (HK) Ltd. similarly transferred its shares in the joint companies, HPEAT and HPTBI, to the 2nd and 3rd defendant respectively. All the transferees (that is, 2nd plaintiff, 2nd and 3rd defendants) have agreed to be bound by the JVA as if they were original parties thereto. The 1st defendant has substantial shareholdings in the 2nd defendant. The 3rd defendant is a subsidiary of the 2nd defendant.

Under the JVA, the 1st plaintiff agreed to grant licences to the joint companies for four consecutive periods of five years each, commencing 1 January 1972, to use the Tiger Brand trade marks and to manufacture, market and distribute the Tiger Brand in the ASEAN countries, Hong Kong, Macau, Burma, Japan, Korea, the Pacific Island and all countries in the Middle East. Accordingly licence agreements were concluded between the 1st plaintiff and the joint companies. Pursuant to the JVA certain companies controlled by the 1st defendant were also engaged to manufacture the Tiger Brand products for the joint companies at costs plus 15%. There is no provisions in the JVA for its renewal beyond December 1991.

By separate letters dated 7 November 1989, the 2nd plaintiff drew the attention of the 1st, 2nd and 3rd defendants that the JVA would expire on 31 December 1991 and also gave notice to them that the JVA would not be renewed or extended beyond 31 December 1991. The plaintiffs also said that months prior to that letter oral indications were given to the said defendants that the JVA would not be extended. Though there were some discussions to extend the JVA, including one involving the chairman of the 1st plaintiff and the 1st defendant personally, they were not fruitful.

The plaintiff alleged that in February 1990, they heard from market sources that the 1st defendant and the companies which he controlled would be launching a new balm product in Singapore and Malaysia. In early March 1990, one Mr. Donald Chia, who is the general manager of the joint companies (and who is also a son of the 1st defendant) informed the President and Chief Executive Officer of the 1st and 2nd plaintiffs, one Dr. Hong Hai, that the 1st defendant and his companies would be launching a new balm product. However, the plaintiffs were not told that this balm would be in direct competition with the Tiger Balm products and would have a similar get-up.

On 5 March 1990 it would appear that the 5th defendant, a wholly owned subsidiary of the 2nd defendant, issued a price list for the new balm, known as the Golden Lion Shield Balm (hereinafter called "the Lion Balm"). The Lion Balm products were being manufactured by the 4th defendant, a company controlled by the 1st defendant's group of companies, and were being distributed in West Malaysia by the 6th defendant, a company similarly controlled. In Singapore, the Lion Balm Product were, prior to the interim injunctions obtained by the plaintiffs in these proceedings, bei