JUDGMENT

Azahar Mohamed J:

(1) This was an appeal by the appellant (the plaintiff in the High Court) against the decision of the learned judge of the Kuala Lumpur High Court given on 16 February 2009 dismissing the appellants claim against the respondent (the defendant in the High Court).

(2) We heard the appeal on 17 February 2011, wherein at its conclusion we unanimously dismissed it with costs. We now give our reasons for so deciding.

(3) The brief antecedent facts of the case giving rise to this appeal are these. The respondent was a director of a company known as TEKNOELEKTRIK INDUSTRIES SDN BHD (the borrower). At the request and application of the borrower, the appellant offered to the borrower banking facilities. On 19 March 1997 the borrower signed a "General Agreement by Customers" (the facilities agreement) that contained the detailed terms and conditions for granting of the banking facilities. As a consideration of the appellant granting or continuing to grant the banking facilities to the borrower, the respondent and three others executed a letter of guarantee dated 19 March 1997 (the letter of guarantee) wherein the respondent and the three others jointly and seve