RK Nathan J:

Facts

The defendant is the registered proprietor of lands held under:

(i) Title No. 5871, Lot No. 118 Seksyen 20, in the Town and District of Kuala Lumpur in the State of Wilayah Persekutuan, Kuala Lumpur, together with one (1) unit of five (5) storey shop-house erected thereon bearing address No. 16, 16A-D, Jalan Petaling, 50000 Kuala Lumpur; and (ii) Titles No. 17721 Lot No. 533 Seksyen 56 and H.S.(D) 27700 Lot No. P.T. 7 Seksyen 56, both in the Town and District of Kuala Lumpur, in the State of Wilayah Persekutuan, Kuala Lumpur, together with one (1) unit four (4) storey shop-house erected thereon bearing address No. 29, Jalan Merbau, Off Jalan Kenanga, 55200 Kuala Lumpur; (the said properties).

The defendant had requested and the plaintiff had approved banking facilities to the defendant totalling RM3,700,000 to be secured over the said properties. The defendant created a first legal charge over the said properties in favour of the plaintiff to secure repayment of three facilities, namely:

(i) a term loan for