JUDGMENT

Ong Chee Kwan JC:

Introduction

[1] This is my judgment after a full trial held vide remote platform, on 5 July 2021,6 July 2021 and 13 July 2021 in respect of Suit WA-22NCC-132-03-2019 ("Suit 132") and Suit No: WA-22NCC-412-09-2018 ("Suit 412") which were heard together.

[2] The parties involved in Suit 132 and Suit 412 are Agasta Co Ltd ("Agasta"), Nippon Export and Investment Insurance ("NEXI") and Rintis Malay Motors Sdn Bhd ("Rintis").

[3] Suit 412 was initially filed by Rintis against Agasta in 2018 in another Court. Pursuant to the Court Order dated 23 April 2019, Suit 412 was transferred to this Court to be heard together with Suit 132, which was an action filed by Agasta and NEXI against Rintis. In Suit 132, Rintis filed a counterclaim against Agasta which mirrors its claim in Suit 412, hence the reason for the 2 Suits to be heard together.

Background Facts

[4] Agasta entered into Sales Contracts dated 20 July 2016 with Rintis to supply fifty-three (53) used and/or reconditioned vehicles ('the Reconditioned Vehicles') to Rintis for a total sum of JPY199,493,760 upon the terms and conditions stated therein which were signed and agreed upon by both parties ('the Sales Contr