JUDGMENT

Clement Skinner J:

This appeal is brought by the plaintiff against the decision of the learned deputy registrar who on 21 January 2003 dismissed the plaintiff's application for summary judgment against the defendants under O. 14 Rules of the High Court 1980 (hereafter 'the RHC').

The plaintiff's claim is for the sum of RM8,577,981.63 with interest thereon at 9.90% per annum from 1 September 2001 till date of full and final settlement, being the amount due and owing to the plaintiff by the 1st defendant in respect of banking facilities granted to it by the plaintiff and which the 2nd defendant guaranteed payment of.

The plaintiff's claim is based on a letter of offer dated 16 July 1998 (hereafter 'the letter of offer'), in which the plaintiff agreed to grant at the 1st defendant's request, banking facilities to it upon the terms and conditions stated in the letter of offer which the 1st defendant duly accepted. The plaintiff's claim is particularised in the statement of claim as follows:

Facilities 9; Amount Outstanding (as at 31 August 2001)

(1) Overdraft No. 1 RM2,180,680.91

(2) (Temporary) Overdraft No. 2 RM6,397,300.72

Total: RM8,577,981.63

The plaintiff also pleaded th