JUDGMENT

David Wong Dak Wah JC:

Application

[1] By an originating summons (encl. 3), the plaintiff seeks the following orders:

1. That the defendant's land described as all that parcel of land together with the building thereon and appurtenances thereof situate at Jalan Tun Jugah, Kuching containing an area of 863.9 square metres, more or less, and described as Lot 8620, Block 16, Kuching Central Land District which is charged by the defendant to the plaintiff under Memorandum of Charge Instrument No. L. 11261/2002 registered at the Kuching Land Registry office on 31 May 2002 (hereinafter referred to as "the said charge") be sold by public auction under the directions of this court and subject to s. 151 of the Land Code (Cap. 81) to satisfy the sum of RM928,589.12 as at 21 February 2005 being the balance of the sale price due and owing by the defendant under the property sale agreement dated 14 May 2002 and pursuant to the provisions of the said charge.

2. That the proceeds of such sale be paid into court and be applied in accordance with s. 151 of the Land Code (Cap. 81) but pending payment out at the written request of the plaintiffs' advocates the registrar shall be authorized to deposit the proceeds of sale in an interest bearing account in the name of the registrar with any reputable bank or financial institution as the plaintiff's advocates shall direct.

3. The costs of and incidental to this application and costs of this action to be on a solicitor and client's basis and to be paid by the defendant to the plaintiff.

4. Such further and other relief as the court thinks fits.

Nature Of The Loan

[2] The defendant obtained a banking facility from the plaintiff in 2002 and the nature and terms of the aforesaid facility are contained in the plaintiff's letter of offer dated 17 April 2002 (LOF), which I produced herein.

Maybank

PRIVATE & CONFIDENTIAL

Our Ref : 27-11195/CR/AW/SPH/d/2002/B141

Date : 17 April 2002

Miss Marilyn Ho Siok Lim

No 136 Jalan Jelutong ZERO ENTRY COST

Lorong 1 PROMOTION A

93350 Kuching PENALTY OF COST OFLOAN FINANCING AMOUNT IF THE

FACILITY IS SETTLED

REDEEMED WITHIN 5

YEARS FROM DATE OF FULL RELEASE

Dear Miss

Re : Al Bai Bithaman Ajil [BBA] House Financing Offer

We are pleased to advise that your application for BBA house financing has been approved subject to the following terms and conditions:

PURCHASE PRICE BY : RM500,00.00 (Ringgit Malaysia

THE BANK Five Hundred Thousand Only)

SELLING PRICE BY : RM995,205.64 (Ringgit Malaysia

THE BANK Nine Hundred and Ninety Five Thousand Two Hundred and Five and Sen Sixty Four Only)

PROFIT RATE : Fixed rate at 3.88% p.a on monthly rest for the 1st year.

Fixed rate 6.50% p.a on monthly rate for the 2nd year

AND THEREAFTER, fixed rate at 7.75% p.a. on monthly rate for 3rd year onwards.

term of repayment : For 20 years subject to monthly instalment of RM4,107.00 by standing instruction.

CANCELLATION AND : Notwithstanding any other DEMAND provisions herein stated relating to the availability of the facility(s) or any part thereof, the Bank reserves the right to recall/cancel the facility(s) or any part thereof at any time it deems fit without assigning any reasons thereto by giving notice of the same, whereupon the facility(s) or such part thereof shall be cancelled and the whole indebtedness or such part thereof shall be repayable upon demand.

LEGAL : All legal documentation as advised

DOCUMENTATION by the Bank's solicitors must be executed by you within 30 days from the date this letter is duly acknowledged ("hereinafter referred to as completion date") or if a written request is made by you for an extension before the completion date, such other period(s) as the Bank may in its absolute discretion agree in writing.

The Bank reserves the right to recall or cancel the facility due to non-execution of the legal documentation by the completion date or such extended periods from the completion date.

REVIEW : Notwithstanding and without prejudice to anything herein stated,