Abdul Malik Ishak J:

The Parties

[1] For ease of reference, the parties will be referred to as follows:

(a) UDA Holdings Berhad is the plaintiff in the original action and it is the first defendant in the counterclaim and will hereinafter be referred to as "UDA Holdings";

(b) Melewar Leisure Sdn Bhd is the defendant in the original action and it is the plaintiff in the counterclaim and it will be referred to hereinafter as "Melewar"; and

(c) CH Williams Talhar & Wong Sdn Bhd is the second defendant in the counterclaim and will hereinafter be referred to as "CH Williams".

The Facts Of The Case

[2] UDA Holdings owns a piece of land held under H.S.(D) 50341 for P.T. No: 1 and H.S.(D) 51859 for P.T. No: 2 located at section 31, Bandar Kuala Lumpur, District of Wilayah Persekutuan (hereinafter referred to as the "land"). Originally on that land stood a wet market. That wet market was subsequently re-developed by Melewar into a famous centre of culture and commerce - known locally as the Central Market and the Central Square.

[3] By way of a lease agreement dated 5 September 1989 (hereinafter referred to as the "the lease agreement"), UDA Holdings leased the land and the old building tha