JUDGMENT

(Enclosure 47)

Nadzarin Wok Nordin J:

[1] The Proposed Intervener, Khee San Bhd (KSB) has by way of encl 47 (Application) applied to this Court to intervene in the proceedings herein on the grounds that KSB is a creditor of the Respondent in the amount of RM68,934,995 as inter company owings (Amounts Owing) and that if KSB is not allowed to intervene, the rights and interest of KSB will be prejudiced.

[2] Maybank Islamic Berhad (MIB) had opposed the said Application on the following:

(i) the Respondent had defaulted in payment under the facilities granted by MIB to the Respondent where KSB stood as guarantor as well as to the other financing facilities granted by the other financiers namely HSBC, Standard Chartered Bank, Alliance Bank, OCBC Bank, OCBC AL Amin, UOB and Bank of China (Other Creditor Banks)

(ii) the Respondent is owing MIB and the Other Creditor Banks in the sum of more than RM65 Million with interest and late payment charges continuing to accrue

(iii) the Respondent and KSB have common directors and that they have been accused of committing breach of trust and breach of fiduciary duty by KSB and the Respondent

(iv) as a result of the above, the purported advances ma