[1] This is the defendant's appeal to the judge in chambers against the order of the learned Senior Assistant Registrar dated 24 June 2002 allowing the plaintiff's application for summary judgment against the defendant in the sum of USD6,624,735.67.

Salient Facts

[2] The plaintiff is a branch of a foreign bank based in Singapore. Vide letter dated 24 July 1995, the plaintiff granted credit financing facilities to the defendant in the sum of USD7,000,000 for the purposes of investing in shares on the then Kuala Lumpur Stock Exchange, now Bursa Saham Malaysia. It is not in dispute that the defendant executed the letter of offer dated 24 July 1995 together with the standard conditions governing share financing/trading facility. Additionally the defendant executed a 'mandate for personal accounts (by an individual), indemnity for telephone/facsimile/telex instructions, a lette