A valid contract under the Put Option Deed mandates compliance irrespective of external legal restrictions post-obligation period.

[1] Enclosure (11) is the Plaintiff's application under O 81 r 1 of the Rules of 2012 (' ROC 2012') seeking summary judgment to be entered against the Defendant. The prayers which the Plaintiff is seeking are as follows:

(a) An order for specific performance of the Put Option against the Defendant as per the Minutes of Judgment in Annexure A;

(b) Further or in the alternative, damages in addition and in lieu of specific performance in the sum of SGD$8,727,767.63 or its equivalent in Malaysian Ringgit to be paid by the Defendant to the Plaintiff;

(c) General damages; and

(d) Compensation (ta'widh).

[2] Having considered the application, the affidavits and the submission of the parties, this Court has allowed the Plaintiff's application with costs.

The Salient Facts

[3] On 17 April 2015, the Plaintiff had been issued 26,750,811 new ordinary shares ('Option Shares') of International Healthway Corporation Limited, Singapore ('IHC').

[4] On 13 May 2015, the Plaintiff and the Defendant entered into a Call Option Deed of Undertaking ('Call Option Deed') and a Put Option Deed of Undertaking ('Put Option Deed') respectively under the Syariah principle of 'Wa'd' (Promise).

[5] Pursuant to the Call Option Deed, the Plaintiff granted the Defendant the call option to require the Plaintiff to sell to the Defendant the whole or part of the Option Shares ('Call Option') at the call price of SGD0.30 for every Option Share and the Call Option was only exercisable from the period of 17 April 2015 to 24 September 2015 ('Call Period').

[6] Pursuant to the Put Option Deed, the Defendant granted the Plaintiff the put option to require the Defendant to purchase from the Plaintiff the whole or part of the Option Shares ('Put Option') at the call price of SGD0.33 for every Option Share.

[7] The salient terms of the Put Option Deed are as follows:

(i) the Put Option was exercisable from 25 September 2015 to 16 October 2015 ('Put Period') - see clause 2.2;

(ii) the Put Option shall be exercised by the Plaintiff by serving the Defendant a notice in writing of the Plaintiff's intention to sell the Option Shares in the Form specified in Schedule 2 - see clause 2.3;

(iii) both the Plaintiff and the Defendant agree and undertake to complete the sale and purchase of the Option Shares - see clause 3.1;

(iv) in the event that either party defaults in the performance of its obligations and covenants of the Put Option Deed, the other party is entitled to the remedy of Specific Performance against the defaulting party, and that an alternative remedy of monetary compensation shall not be regarded as compensation or sufficient compensation for any party's default in the performance of the terms and conditions of the Deed - see clause 11.1;

(v) in the event of any breach, the defaulting party shall indemnify the other party fully against and in respect of all costs, expenses, losses or damages incurred or suffered as a consequence of such breach - see clause 11.2(a); and

(vi) the Put Option Deed shall be governed by, and construed in accordance with the laws of Malaysia and parties irrevocable submit to the exclusive jurisdiction of the Courts in Malaysia - see clause 14.

[8] On 19 June 2015, IHC announced a proposed acquisition of Healthway Medical Corporation Limited ('HMC') by way of a scheme of arrangement ('Proposed Merger').

[9] On 23 September 2015, the Defendant wrote to the Plaintiff to inform, inter alia, the following:

(i) that as he (Defendant) was the Chief Executive Officer of IHC, he is then regarded as a person having confidential and price - sensitive information;

(ii) that therefore he was unabl