JUDGMENT

Syed Ahmad Helmy J:

The declarations sought by the plaintiff as per encl. 2 is for the following reliefs:

a. A declaration that the defendant has absolutely assigned to the plaintiff all rights and interest in that piece or parcel of property known as PTD 117952 in the Mukim of Pulai, District of Johor Bahru, State of Johor (hereinafter referred to as 'the said property') pursuant to the deed of assignment dated 12 September 2002;

b. A declaration that the issuance of individual title for the said property does not effect the validity and continuance of the aforesaid absolute assignment and that the rights and privileges of the plaintiff as the assignee under the deed of assignment dated 12 September 2002 are intact and preserved regardless of the issuance of individual title for the said property; and

c. A declaration that the absolute assignment referred to in para. 1 above constitutes an equitable mortgage of the said property to the plaintiff and by reason thereof, the plaintiff is at liberty to dispose of the said property in accordance with the agreed terms and conditions in the facilities agreement and deed of assignment, both dated 12 September 2002, regardless of