JUDGMENT

Abu Bakar Jais JCA:

Introduction

[1] We had allowed the Appellant's appeal against the decision of the High Court which dismissed the Appellant's Originating Summons for among others, an injunction to restrain the 1st Respondent from receiving the proceeds under an unconditional on demand bank guarantee.

[2] In reversing the decision of the High Court, we gave the declaration that the demand made by the 1st Respondent on the bank guarantee issued by the 2nd Respondent is invalid and unlawful. We also ordered that the 1st Respondent is not to receive the proceeds of that bank guarantee.

[3] The Respondents are aggrieved by our decision and hence our reasons for the same are explained hereafter.

Background Facts

[4] The 1st Respondent, a Myanmar company, awarded the Appellant a contract dated 31 December 2018 called Lump Sum Turnkey Contract for the Engineering, Procurement, and Construction of a Liquefied Petroleum Gas ("LPG") Receiving, Tanking, Storage and Bottling Facility at Land No 607, Ga Yan Kwin, No1 (e), Thida, Myaing Ward, Kyaut Tan Township Thilawa, Myanmar ("EPC Contract").

[5] Pursuant to the EPC Contract, the Appellant is to provide a bank guarantee to the 1st Respon