A conspiracy to injure requires intent to harm the claimant's interests, and can lead to damages from both breach of contract and economic tort.

[1] This dispute emanates from a conflict that arose primarily between the First Plaintiff, one Deepak Jaikishan a/l Jaikishan Rewachand, and the First Defendant, Intrared Sdn Bhd, an entity that is a subsidiary of the financial institution known as Kuwait Finance House (Malaysia) Sdn. Bhd The Plaintiffs also enjoyed a banker-customer relationship with the latter.

[2] As a consequence of the conflict, which related to the purchase of a commercial building that was in the process of being constructed, the Plaintiffs claim that they have suffered vast losses arising from the acts of the First Defendant, Intrared, which the Plaintiffs maintain amount to a breach of contract.

[3] Further or alternatively, the Plaintiffs maintain that the First Defendant conspired with Kuwait Finance House (Malaysia) Sdn. Bhd to cause them injury, and caused immeasurable loss to the Plaintiffs, particularly the First Plaintiffs, credit reputation.

[4] The First Defendant categorically denies these allegations. In so far as the 2nd Defendant is concerned, the Plaintiffs seek to establish that there are sufficient grounds for the corporate veil of the 2nd Defendant, a wholly owned subsidiary of Intrared, to be lifted such that it and Intrared are effectively one and the same.

The Judgment

[5] I summarise below the relevant paragraphs dealing with the several issues arising in the course of the judgment, which make for easier reference:-

(i) The factual matrix underlying the case is set out under Salient facts and spans paragraphs 1 - 54;

(ii) The issues arising for adjudication are set out at paragraph 55;

(iii) The cause of action premised on a breach of the Share Sale and Purchase Agreement between the Plaintiffs and Intrared is dealt with at paragraphs 57 - 71;

(iv) The issue of waiver is dealt with at paragraphs 72 - 89;

(v) The tort of conspiracy to injure is dealt with from paragraphs 90 - 170

(vi) The issue of whether the corporate veil of the 2nd Defendant, Prestige Scale Sdn Bhd ought to be lifted is dealt with a paragraphs 172 - 191;

(vii) The issue of Damages is dealt with from paragraphs 192 - 249

Salient Facts

[6] The salient facts relating to this dispute are as follows:-