[1] The facts underlying this application are not disputed and we are grateful to learned counsel of both parties for having briefly simplified them. Suffice that we reproduce the brief facts as found in the appellants written submission:-

a. The respondent filed an application by way of originating summons seeking leave pursuant to s 181A of the Companies Act 1965 to commence a derivative action in the name of the Appellant against the appellants directors, Telekom Malaysia Berhad (TM) and Telekom Enterprise Sdn Bhd (TESB) and their directors.

b. On 9 July 2008, leave was granted by the High Court Judge for the respondent to commence a derivative action in the name of the appellant along the lines of the proposed statement of claim. This is the order being appealed against.

c. The derivative action in the name of the appellant is intended to recover the alleged loss and damages suffered by the appellant for the breach of the amended and Restated Supplemental Agreement dated 4 April 2002 entered into between amongst others the appellant and DeTeAsia Holding GmbH ("the ARSA").

d. Under the ARSA, the appellant agreed that it would not merge its business to allot/i