KENBEE SDN BHD v GLORY DRIVE SDN BHD

n-02ncvcw-1935-11-2024 Court of Appeal (Mahkamah Rayuan) 6 April 2026 • N-02(NCvC)(W)-1935-11/2024 • 24 min read

4 cases cited (0 SG, 4 foreign)

Catchwords

Construction of Clause 2 of the Supplemental Agreement The governing principles - The meaning of "liabilities arising from its operation" – the phrase "arising from its operation" should not be interpreted as a technical accounting term of art referable to the classification of activities in a cash flow statement - the literal meaning of the words "liabilities of the company arising from its operation" does not naturally import the technical cash flow statement distinction between operating, investing and financing activities - "change in the liabilities of the company arising from its operation" - Amortisation and Deferred Tax Liability - Appellate Intervention

Judges (3)

Ahmad Kamal bin Md. Shahid Coram Azmi bin Ariffin Coram Ong Chee Kwan Delivered

Counsel (8)

Alex Chang & Co. Firm Chongsoo Partnership Firm Alex Chang Huey Wah Counsel Respondent Chang Jun Chen Sean Counsel Respondent Lim Wen Mi Counsel Respondent Shamala Devi Balasundaram Counsel Appellant Siow Poh Ching Counsel Appellant Soo Siew Mei Counsel Appellant

Parties (2)

GLORY DRIVE Sdn Bhd Respondent KENBEE Sdn Bhd Appellant

Statutes Cited

Evidence Act 1950 (Cap 56)

Cases Cited (4)

UK (1)

[1998] 1 WLR 896

MY (3)

[2016] 1 MLJ 464 [2017] 4 MLJ 697 [2025] 7 CLJ 29

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (n-02ncvcw-1935-11-2024)