Richard Malanjum JCA:

Introduction

[1] On 12 May 2003 we dismissed with costs the appeal by the appellants against the decision of the High Court in Temerloh on 2 April 2002 refusing to grant an interim injunction as prayed for in encl 12 thereof.

[2] And with the dismissal of the appeal the Erinford Order issued by the same High Court to the appellants on 26 April 2002 was therefore ipso facto set aside.

[3] Dissatisfied with our decision the appellants have now applied for leave to appeal to the Federal Court. We now give our reasons for dismissing the appeal.

Background

[4] The following are not in dispute:

(a) that the respondent is a co-operative society registered under the Co-Operative Societies Act 1993;

(b) that there were three agreements executed by the respondent as the seller with the respective appellants as buyers in connection with the sale of the palm oil mill factory and the estate lands ('the properties');

(c) that all the agreements were dated on 20 November 1998 but was agreed to be effective from 1 January 1998;

(d) that it was pursuant to its corporatization exercise that the respondent executed the agreements with the view of listing with the Kuala Lumpur Stoc