JUDGMENT

George Seah FJ:

The only question to be decided in this appeal involves the interpretation of an assignment made on 18 February 1978 between the appellant, as assignor of the one part and the Public Bank, as assignee of the other part.

The relevant facts do not appear to be in dispute and may be briefly stated. On 1 April 1977 the appellant, as purchaser entered into a sale agreement with the developer, Tan Kim Chua Realty (M) Sdn. Bhd. whereby the latter sold one shop/office unit described as Lot 222 in a multi-storey shopping and office complex now known as Merlin Tower to be erected on land held under Grant 5531 Lot 730 in the township of Johore Bahru to the appellant for the sum of RM184,320 (hereinafter referred to as the said property). Subsequently an arrangement was arrived at whereby the Public Bank would grant to the appellant a fixed loan of RM92,160 to enable the appellant to pay to the developer the balance of the purchase price. This arrangement was carried through by means of two documents dated 18 February 1978. The first was a loan document and the second was an assignment, which is the subject of the appeal. Not only the developer had express notice it ha