in the court of appeal malaysia (appellate jurisdiction)

products and accessories for textiles, all kinds of
leather goods, toys, real and imitation jewellery
and all kinds of cosmetics, costumes, clothing,
lingeries, hats, boots, shoes, home appliances,
kitchen wares, perfumes, artificial and natural
flowers and all kinds of goods, wares and
merchandise which can be displayed and sold in
departmental stores.
(B) To carry on the business of supermarket owners,
cold-storage keepers, general merchants and
dealers in canned goods, foodstuffs, provisions,
rice, sugar, salt, cereals, fruits, vegetables, fish,
meats, produces, goods and articles of every kind
and description whether raw, fresh, preserved or
manufactured and to barter, exchange, manipulate
and prepare for market or otherwise deal in such
products and goods’
and other objects stated in the Memorandum of
Association of the 1 st Respondent.
10. In accordance with the Joint Venture Agreement the
Petitioner was issued and allotted 900,000 shares of
RMl.00 each comprising 30% of the total shareholding
and the 2 nd Respondent was issued and allotted 2,100,000
shares of RM1.00 each comprising 70% of the total
shareholding in the 1 st Respondent.
11. The appointments to the board of directors of the 1 st
Respondent were also duly made.
12. Pursuant to the Joint Venture Agreement the Petitioner’s
wholly owned subsidiary company, Sunyap Development
Sdn Bhd (Co. No. 67231-M) also subleased the Premises
at a special rent to the 1 st Respondent.
13. The 1 st Respondent started trading in the year 1998 and
for the seven (7) months of trading before year end in
December had made a profit.
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