Balia Yusof Wahi J:

[1] This is an application for a declaration in respect of a joint venture agreement entered into between four parties namely, the plaintiff, the defendant, U-Meng Corporation Sdn. Bhd. and U-Meng Holdings Sdn. Bhd. The declaration sought by the plaintiff revolves essentially on the construction of cl. 2 of the said joint venture agreement with regard to the entitlement of the parties under the said agreement. For completeness and ease of reference, I tabulate the plaintiff's claims in encl. 1 as follows:

(1) a declaration that pursuant to cl. 2.1 of the agreement dated 4 May 1996 ("Joint Venture Agreement") between the plaintiff, the defendant, U-Meng Corporation Sdn. Bhd ("U-Meng Corporation") and U-Meng Holdings Sdn. Bhd ("U-Meng Holdings"),

the plaintiff is entitled to receive from the defendant all gross sale proceeds and any other income derived from the development scheme under the Joint Venture Agreement ("Development Scheme") in the following ratio:

(i) in respect of wholly residential development, in the proportion of 11.8958%; and

(ii) in respect of all other types of development but not limited to commercial, industrial and partly residential deve