JUDGMENT

Mohd Nazlan Mohd Ghazali JCA:

Introduction

[1] The Respondent bank had agreed to grant financing facility to the Appellant company. The Appellant later commenced a writ action against the Respondent for the termination of the facility prior to any drawdown. This appeal before us was against the dismissal of the action by the High Court .

[2] Having examined the appeal record and considered the submissions by parties, we unanimously decided to dismiss the appeal for the reasons set out hereunder.

Key Background Facts

The Parties

[3] The Appellant, being the plaintiff who initiated the suit is Evergreen Corporate Sdn Bhd, a company involved in recycling used tires into diesel, carbon black, steel wires and synthetic gas using green technology. The Respondent, as the defendant in the Court below, is the Export-Import Bank of Malaysia Berhad (EXIM Bank), a Government-owned Development Financial Institution (DFI), which principal business seeks to promote reverse investment and export of strategic sectors such as capital goods, infrastructure projects, shipping, value-added manufactured products and to facilitate the entry of Malaysian companies to new markets.

The Facility Agreeme