JUDGMENT

Collin Lawrence Sequerah JCA:

A) Introduction

[1] This is an appeal by the Appellants against the decision of the High Court dated 8 February 2024 which found the Appellants liable as claimed by the Respondent in Originating Summons WA-24NCC-1182-03/2024 dated 10 March 2023 ("OS") and which ordered inter alia, specific performance of a Memorandum of Deposit and a Deed of Undertaking and Indemnity, both dated 21 December 2016, and a mandatory injunction for the transfer of lands called the 'BSA Land' to the Respondent or the Respondent's appointed nominee.

B) Background Facts

[2] Sotella ("Respondent") is a company incorporated in Singapore. All 4 Appellants are companies incorporated in Malaysia.

[3] The 1st Appellant holds an approved property developer status by the Ministry of Finance Malaysia and MIDA of the Iskandar Development Region in the state of Johor.

[4] The 2nd and 3rd Appellants own 40% and 60% equity respectively in the 1st Appellant.

[5] The 4th Appellant is the registered proprietor of 4 parcels of freehold land ("BSA Land") in Johor which were pledged as third-party security for the due repayment of the monies to the Respondent pursuant to cl 9 of a Share Subsc