[1] This is the trial of an action between Kinda Hardware Trading (KL) Sdn Bhd ("Kinda Hardware ") and Kumpulan A Besik Sdn Bhd ("Besik") which centres on the validity of a transaction between them and another two transactions between Besik and Prinsiptek (M) Sdn Bhd ("Prinsiptek"). All three transaction took place some 24 months prior to Besik being wound up and are as follows:

a. the sale of a two and a half storey terrace house by Besik to Kinda Hardware vide a sale and purchase agreement dated 13 October 2008;

b. the transfer of a sum of RM650,000.00 from Besik's account to Prinsiptek on 14 January 2009; and

c. the transfer of a sum of RM131,200.00 from Besik's account to Prinsiptek on 25 August 2010.

The Facts In Outline

[2] I shall begin by setting out the facts in outline. Save where otherwise indicated, these facts were all agreed or not disputed.

[3] Besik is a company incorporated in Malaysia. It was the licensed housing developer of a housing development known as Taman Bukit Serdang ("the project"). It appointed Prinsiptek a