JUDGMENT

Su Geok Yiam JC:

This is an application by the plaintiff vide summons in chambers (encl. 6) for summary judgment for specific performance of a contract of guarantee against the 1st defendant for the buy back by the 1st defendant of 15,569,000 Pacific Matrix shares and for the payment by the 1st defendant of a sum of RM3,658,555.04 representing the buy-back price of the 15,569,000 Pacific Matrix shares under O. 81 of the Rules of the High Court 1980 (hereinafter referred to as "the RHC").

Facts And Background

The plaintiff is a businessman. The 1st defendant is a private limited company incorporated in Malaysia and having its registered address at No. 44A, Jalan Che Wan, 30250 Ipoh, Perak.

The plaintiff has averred in his affidavit affirmed on 11 July 2000 (encl. 7) in support of his application that the 1st defendant is and was at the commencement of this action justly and truly indebted to the plaintiff in the sum of RM3,658,585.04.

The plaintiff has endorsed his writ of action (encl. 1) with the following particulars of his claim:

(1) the plaintiff's claim against the 1st defendant is based on a contract of guarantee entered into between the plaintiff and the 1st defendant on 3