Gopal Sri Ram JCA:

[1] Otaheitte Estate which is now known as Ayer Itam Estate is a well-known piece of property in Penang. It has a long history. And there has been much litigation about it.

[2] The story began as long ago as 1941. On August 26 of that year, an agreement was entered into between Chor Bah Say (whom we shall, throughout this judgment, refer to as "the deceased"), and the first respondent company, which we shall, refer to hereafter as "the company". No one knows what that agreement was about. It has not surfaced. According to the affidavit of one Robert Choong Ewe Jin, a director of the company, affirmed on 4 April 1968 and filed in another suit (Civil Suit No: 64 of 1968), that document cannot be located.

[3] Then, on 24 October 1941, an Indenture was made between one William Stewart and the company ("the Stewart Indenture'), under which William Stewart conveyed to the company all those heriditaments which comprised Otaheitte Estate for a consideration of RM140,000. The Stewart Indenture was duly presented to the relevant registering authority under the provisions of the relevant legislation that governed immovable property in Penang at that time. The company i