Yusrin Faidz Yusoff JC:

Introduction

[1] In Lewis Carroll's Through the Looking-Glass, Humpty Dumpty declares to Alice, "When I use a word... it means just what I choose it to mean -- neither more nor less." This case evokes that same spirit of linguistic arbitrariness. The Plaintiff Bank, in its construction of a narrowly-worded Letter of Undertaking has adopted a Humpty Dumpty-like approach to interpretation, insisting that the document means whatever the Bank chooses it to mean in pursuit of its claim, irrespective of commercial context or the inherent limitations of the text. The Court 's duty however, is not to indulge in such whimsy but to ascertain the objective intention of the parties at the time of contracting, giving the words their ordinary meaning within the four corners of the agreement and the factual matrix that surrounded it.

Background Facts

[2] The factual matrix, which is largely undisputed, reveals the following narrative. The Plaintiff extended a RM33,000,000.00 Facility to its customer, Reka Indah Development (Penang) Sdn Bhd ("Reka Indah") via a Letter of Offer dated 2 July 2018, structured upon the Shariah principle of Commodity Murabahah. The security