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in the court of appeal malaysia (appellate jurisdiction)

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‘2.6 Management Committee<br />

A meet<strong>in</strong>g for Management Committee compris<strong>in</strong>g<br />

<strong>of</strong> three (3) representatives from NGIU KEE who<br />

shall be <strong>the</strong> Manag<strong>in</strong>g Director, an Executive<br />

Director and <strong>the</strong> F<strong>in</strong>ancial Controller and two (2)<br />

representatives from PAN PACIFIC shall be held<br />

every month <strong>in</strong> respect <strong>of</strong> <strong>the</strong> management <strong>of</strong> <strong>the</strong><br />

Bus<strong>in</strong>ess <strong>of</strong> <strong>the</strong> Company. The chairman for all<br />

such meet<strong>in</strong>gs shall be <strong>the</strong> Manag<strong>in</strong>g Director or <strong>in</strong><br />

his absence shall be chosen from one <strong>of</strong> <strong>the</strong><br />

members present.’<br />

‘3. Bus<strong>in</strong>ess <strong>of</strong> <strong>the</strong> Company<br />

3.1 The bus<strong>in</strong>ess <strong>of</strong> <strong>the</strong> Company shall unless<br />

and until <strong>the</strong> parties o<strong>the</strong>rwise agree be<br />

conf<strong>in</strong>ed to <strong>the</strong> Jo<strong>in</strong>t Venture.<br />

3.2 NGIU KEE shall be responsible for <strong>the</strong><br />

management <strong>of</strong> <strong>the</strong> Department Store us<strong>in</strong>g<br />

<strong>the</strong>ir knowledge and experience and shall be<br />

entitled to call upon <strong>the</strong> advice and support<br />

from PACIFIC CONSTRUCTION CO<br />

LTD, Republic <strong>of</strong> Ch<strong>in</strong>a, as and when <strong>the</strong><br />

need arises.’<br />

‘4.4 Bank<strong>in</strong>g facilities, additional f<strong>in</strong>ance<br />

4.4.1 All bank<strong>in</strong>g facilities required for <strong>the</strong><br />

Company shall be obta<strong>in</strong>ed from any<br />

approved bank<strong>in</strong>g <strong>in</strong>stitutions on terms<br />

favourable to <strong>the</strong> Company.<br />

4.4.2 Any additional f<strong>in</strong>ance required by <strong>the</strong><br />

Company may be advanced by <strong>the</strong> parties<br />

subject to <strong>the</strong> prevail<strong>in</strong>g bank<strong>in</strong>g <strong>in</strong>terest<br />

rate for overdraft facilities/term loan<br />

facilities to be agreed between <strong>the</strong><br />

Shareholders.’<br />

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