JUDGMENT

Ramly Ali J:

The applicant in the present proceeding is a licenced financial institution incorporated in Malaysia, having a branch office at No: 36, Beach Street, 10300 Penang and an absolute assignee of the property known as Petak No. C 2.06, Tingkat No. 2, Kompleks Adorna, Jalan Brick Klin, Pulau Pinang erected on a part of Lot No. 492, Seksyen 10, Bandar Georgetown, Daerah Timur Laut, Pulau Pinang comprised in Geran No: 1854 ( "the said property).

The respondent is a company incorporated in Malaysia and having its last known address at No: 272-K, Jalan Air Itam, 11400 Penang; or at 413-4-F-A, Wisma Chuan Bee No: 413 Chulia Street, 10200 Penang or at 107-2-06 Adorna Complex, Gudwara Road, 10300 Penang. The respondent was wound-up by an order dated 18 January 2001 of the Kuala Lumpur High Court Companies (Winding-Up) No: D9-28-882-2000 and Messrs. S.K. Tee & Co. were appointed as liquidator of the respondent.

Via the notice of motion dated 16 October 2003 (encl. 25) the applicant seeks, inter alia, the following orders:

(i) that leave be granted by this court to the applicant, OCBC Bank (Malaysia) Berhad to intervene in the matter herein;

(ii) that the applicant, OCBC Ban