Mohamed Dzaiddin Abdullah FCJ:

[1] This is an action for specific performance of an agreement dated 27 July 1977 (the said agreement) made between the defendant, formerly known as Sovereign General Insurance Sdn Bhd, and Ng Siau Choon (the deceased), who was at the material time the chairman and the principal officer of the defendant. Under the said agreement and for the consideration of RM1,669,220, the defendant agreed to sell and the deceased to purchase the following assets and properties of the defendant:

(a) 20,000 shares of RM1 each in Auto Electronic Sdn Bhd;

(b) Lot 510, s 67, Town of Kuala Lumpur, together with the premises thereon known as No: 247, Jalan Bukit Bintang, Kuala Lumpur;

(c) Lot 1283 and Lot 1285, s 46, Town of Kuala Lumpur, together with two uncompleted buildings erected thereon;

(d) Lots 107, 115 and 116, Town Area xx, Malacca, together with the premises erected thereon and known as No:55-A, 55-D, Jalan Bendahara Melaka;

(e) Lots 26 and 27 Pulau Sebang, District of Alor Gajah, Melaka, together with the premises erected thereon and known as No 203 and 2004, Main Road, Pulau Sebang, Melaka;

(f) Lots 278 and 279, Town Areas, VIII Melaka.

[2] This action was co