GROUND FOR JUDGMENT

[1] By Originating Summons dated 15 December 2005 the Appellant sought inter alia a declaration that the 1^st Respondent is holding 20 shares in the 2^nd Respondent company on trust for the Appellant pursuant to a Trust Deed dated 25 November 2002.

[2] On 12 December 2006 the High Court dismissed the Appellant's Originating Summons with costs. Being dissatisfied with the said decision the Appellant then appealed to this Court against the decision vide Notice of Appeal dated 10 January 2007.

[3] On 29 July 2009, we allowed the Appellant's appeal. We now give the grounds for our decision.

[4] The relevant facts are as follows. The 1^st Respondent, together with the Appellant and one Lim Aik Chin are all the shareholders and directors of the 2^nd Respondent company. Their respective shareholdings in the 2^nd Respondent company as on 30 November 2004 are as follows:-

[5] The 1^st Respondent became a shareholder of the 2^nd Respondent company in early April 2001.

[6] The 2^nd Respondent company secured a 30- year lease from Perbadanan Kemajuan Negeri Selangor ("PKNS") of a piece of land known as Plot L, Jalan Aerobic, Seksyen 13, Shah Alam, Selangor ("the Land") for t