1. ) LEXTREND SDN BHD 2. ) BAMBOO QUEST SDN BHD 3. ) UNITED MALAYAN LAND BHD 4. ) SERI ALAM PROPERTIES SDN BHD v SOTELLA FUND PTE. LTD

w-02ncvca-433-03-2024 Court of Appeal (Mahkamah Rayuan) 28 September 2025 • W-02(NCvC)(A)-433-03/2024 • 3 min read

Catchwords

Share Subscription Agreement -failing to redeem and pay the redemption sums for its RPS in accordance with the Principal Agreements- The MOD and DOU constitute contingent securities designed to secure obligations arising from the Principal Agreements - triggered only upon the occurrence of a redemption default- arrangement between parties is contained in several documents all executed simultaneously-must be read together to ascertain the intention of the parties- redemption obligations under the Principal Agreements had not yet crystallized because the conditions under the sub-section above could not be fulfilled- section 72(4) of the Companies Act 2016- substantial overlap and multiplicity of proceedings in that they all sought for a common relief- debt-like repayment schedule rather than a genuine equity arrangement dependent on commercial success- fixed redemption timetable.- non-response to a demand letter may be weighed against the overall evidence - failure to respond must not be equated to admission of a claim.

Practice Areas

Share Subscription Agreement -failing to redeem and pay the redemption sums for its RPS in accordance with the Principal Agreements- The MOD and DOU constitute contingent securities designed to secure obligations arising from the Principal Agreements

Judges (3)

Azhahari Kamal bin Ramli Coram Collin Lawrence Sequerah Delivered Muniandy a/l Kannyappan Coram

Parties (5)

BAMBOO QUEST Sdn Bhd Appellant LEXTREND Sdn Bhd Appellant SERI ALAM PROPERTIES Sdn Bhd Appellant SOTELLA FUND PTE. LTD Respondent United Malayan Land Bhd Appellant

Case Significance

1. ) LEXTREND SDN BHD 2. ) BAMBOO QUEST SDN BHD 3. ) UNITED MALAYAN LAND BHD ... is a Court of Appeal (Mahkamah Rayuan) decision dated September 28, 2025 (citation: w-02ncvca-433-03-2024). The panel comprised Azhahari Kamal bin Ramli, Collin Lawrence Sequerah and Muniandy a/l Kannyappan, with Collin Lawrence Sequerah delivering the judgment.

What was the outcome of 1. ) LEXTREND SDN BHD 2. ) BAMBOO QUEST SDN BHD 3. ) UNITED MALAYAN LAND BHD ...?

1. ) LEXTREND SDN BHD 2. ) BAMBOO QUEST SDN BHD 3. ) UNITED MALAYAN LAND BHD ... is a Court of Appeal decision dated September 28, 2025. The case was heard by Azhahari Kamal bin Ramli. See the full judgment for details.