Suriyadi Halim Omar J:

[1] The plaintiff is a bank incorporated in Malaysia under the Companies Act 1965 and licensed under the Banking and Financial Institutions Act 1989. The defendant is also a company and the beneficial owner of a large tract of land (hereinafter referred to as the 'impugned land'). The facts as gauged from the writs, exhibited statement of claims and supporting affidavits have highlighted that the impugned land was originally owned by a company called Ng Eng Hiam Plantations Sdn Bhd (hereinafter referred to as the original owner). By a sale and purchase agreement dated 15 June 1995 the defendant had bought the impugned land from the latter.

[2] To part finance the acquisition of the impugned land, the defendant had requested a consortium of financial institutions (hereinafter referred to as the vendors), with the plaintiff as the arranger and agent to help out. The assistance sought for was for an Al-Bai Bithaman Ajil facility with a sale price of RM216,687,000, in aggregate made up of a purchase price of RM125,000,000, and a profit element over the impugned land.

[3] The antecedent and matrix of the case showed that for the Al-Bai Bithaman Ajil facil