[2] Malaysia Airlines System Berhad wanted to build a cargo complex at Kuala Lumpur International Airport, Sepang. That complex needed infrastructure works. On 3 December 1996, Malaysia Airlines System Berhad awarded the contract for the infrastructure works to a joint venture constituted between the appellant and the second respondent in the instant appeal. On 29 January 1997, the second respondent in this appeal wrote to the first respondent. In that letter, it awarded the sub-contract for certain works in respect of the cooling system for the cargo complex in question. The appellant did not sign the said letter of award; nor was it ever mentioned in that document. Later, disputes arose which became the subject matter of proceedings in court. The first respondent before us was plaintiff in those proceedings and the appellant and the second respondent among others were defendants. That litigation was settled. The compromise was recorded in a settlement agreement dated 12 January 1999. s 1.02 of the recitals to the settlement agreement reads as follows: