Amelia Tee Hong Geok Abdullah JC:

(1) The Plaintiff, PB Securities Sdn. Bhd., now known as Public Investment Bank Berhad, is a stock broking company and a member of the Kuala Lumpur Stock Exchange. The Defendant, Ho Say Fong, was a former employee of the Plaintiff, employed as a Paid Dealer's Representative.

(2) The Plaintiff's claim against the Defendant is for a sum of RM 6,921,230.04, outstanding interest amounting to RM1,032,374.20 as at 13.11.1998, interests and costs arising from an indemnity given by the Defendant under an agreement dated 19.12.1994 whereby the Defendant had allegedly agreed to indemnify the Plaintiff for any losses or liability arising from, inter alia , the failure of the client handled by the Defendant to pay for his trades. In the alternative, the Plaintiff contends that for every customer's account that was opened, the Defendant had agreed to be responsible for any debts owing by the customer.

(3) The Plaintiff's claims in paragraphs 4 & 5 of the Statement of Claim were disputed by the Defendant. Instead, the Defendant contends that the indemnity provision referred to in paragraph 4 was not part of the agreement of 19.12.1994. She further contends