JUDGMENT

Jeffrey Tan JCA:

(1) This is an appeal by the defendant/appellant against the learned judges order dated 10 March 2005. That order restrained the defendant from enforcing the securities pledged by the plaintiffs to the defendant, but was silent as to whether the injunction was interlocutory or permanent.

(2) The pertinent background facts were as follows. The defendant was a bank. The 1st plaintiff was a customer of the defendant. The 2nd plaintiff was the guarantor of the account of the 1st plaintiff. The bank and customer relationship commenced in 1996, with the acceptance by the 1st plaintiff of a credit facility of RM5 million from the defendant. That credit facility was later increased with the attendant provision of additional securities, which were (i) the guarantee of the 2nd plaintiff dated 9 July 2001, (ii) a charge over all fixed deposits and credit balances held to the credit of the 1st plaintiff by the defendant dated 9 July 2001, (iii) an undated letter of set off allowing the defendant to apply all monies held to the credit of the 1st plaintiff by the defendant in satisfaction of all monies owed by the 1st plaintiff to the defendant, (iv) an undated memo