JUDGMENT

Sulong Matjeraie JCA:

[1] This is the judgment of the Court.

[2] This is an appeal against the decision of the learned High Court Judge at Sibu, Sarawak who had dismissed, with costs, the originating summons of the appellant/plaintiff (appellant) for an order for the removal of caveat under s. 177 of the Sarawak Land Code (Cap. 81). We agreed with and affirmed the decision of the learned High Court Judge and have accordingly dismissed the appeal. Our reasons are as follows.

Brief Facts

[3] The appellant, being the registered proprietor of all that parcel of land situate at Sungai Seduan, Sibu, containing an area of 22.983 hectares, more or less and described as Lot 1382 Block 11, Seduan Land District ('the said land'), entered into a development agreement ('development agreement') with the respondent/defendant ('respondent') on 9 May 1998 for the development of the said land. The respondent was formerly known as Vicspeed Sdn Bhd.

[4] It was envisaged under the development agreement that residential and commercial buildings will be constructed on various subdivided sublots thereon.

[5] The development agreement confers, on a sharing basis, the appellant with 20% of the residential