Abdul Wahab Patail J:

[1] Enclosure 18 is an appeal to the judge in chambers against the decision of the deputy registrar refusing to grant the plaintiff's application for leave to enter summary judgment under O. 14 of the Rules of the High Court 1980 (PU(A) 50/1980). The appeal is dealt with by a rehearing. Having heard the parties, the court allowed the appeal with costs.

Case For Plaintiff

[2] The case for the plaintiff is that pursuant to various letters of offer, the terms of which were duly accepted by a company called Kian Furniture Manufacturing S/B ("KFM") (formerly known as Cheng Giap Furniture Sdn. Bhd.), the last of which was the letter of offer dated 6 May 2003 ("facilities agreement"), the plaintiff granted to KFM various banking facilities including, inter alia, a bank guarantee facility of up to RM300,000; a term loan facility for RM399,999.92; an Import Line of up to a limit of RM1,900,000 and a Foreign Exchange Contract Line of up to a limit of RM50,000 (collectively known as the said "banking facilities").

[3] The banking facilities are secured by:

a) an all monies debenture dated 1 December 1994 over the fixed and floating assets of Cheng Giap Furniture