PS Gill J:

The plaintiff's cause of action is based upon a Deed of Admission, and Acknowledgment, executed by the defendant, on 24 April 1996. The Deed Of Admission and Acknowledgment was executed by the defendant on 26 April 1996, and produced and marked in court as P1.

For ease of reference P1 reads as follows:

This Deed Of Admission and Acknowledgment is made the 26 day of April, 1996 between LASMAN DAS A/L SUNDRA SHAH (NRIC NO. 7641874) No. 43, Pesara Pasir Puteh, Taman Boon Bak, 16050 Ipoh, Perak (hereinafter called the First Party) of the one part And LEE TECK SENG (NRIC NO. 4063396) of No.5, Jalan Hussein, 30250 Ipoh (hereinafter called the Second Party) of the other part.

Whereas the First Party hereby admits, acknowledges and confirms that since 1989 the second Party has paid to the First Party various sums of money totalling Ringgit One Million Two Hundred and Sixty Thousand (RM1,260,000.00) only for the purpose of investment in business ventures by the First Party on behalf of the Second Party.

Now this deed witnesseth as follows:

1. In consideration of the above premises the First Par