JUDGMENT

Mohd Nazlan Mohd Ghazali JCA:

Introduction

[1] The respondent bank had agreed to grant financing facility to the appellant company. The appellant later commenced a writ action against the respondent for the termination of the facility prior to any drawdown. This appeal before us was against the dismissal of the action by the High Court .

[2] Having examined the appeal record and considered the submissions by parties, we unanimously decided to dismiss the appeal for the reasons set out hereunder.

Key Background Facts

The Parties

[3] The appellant, being the plaintiff who initiated the suit is Evergreen Corporate Sdn Bhd, a company involved in recycling used tires into diesel, carbon black, steel wires and synthetic gas using green technology. The respondent, as the defendant in the Court below is Export-Import Bank of Malaysia Berhad (EXIM Bank), a government- owned development financial institution (DFI), which principal business seeks to promote reverse investment and export of strategic sectors such as capital goods, infrastructure projects, shipping, value added manufactured products and to facilitate the entry of Malaysian companies to new markets.

The Facility Agreement

[4]