JUDGMENT

Lee Swee Seng FCJ:

[1] This appeal originated from the Plaintiffs' application for summary judgment pursuant to O 14 of the Rules of Court 2012 ("ROC 2012"), premised on a claim for Liquidated Damages (LD) due to the late delivery of vacant possession under the terms of the Sale and Purchase Agreements (SPA) entered into between the parties.

[2] The appeal involved a claim by 62 individuals as Plaintiffs, who had each entered into SPAs with the property developer, Icon City Development Sdn Bhd (formerly known as Sierra Peninsular Development Sdn Bhd), the Defendant, for the purchase of stratified mixed commercial and residential units, namely Small Office Versatile Office ("SOVO") units located in Tower 3 and Tower 3A of a development project.

[3] Pursuant to the SPA, the Defendant was required under cl 35a 1 to obtain both (a) conversion approval for the land and (b) building plan approval. These approvals were to be obtained within twelve (12) months from the date of the SPA, with a further extension of six (6) months permitted, collectively referred to as the Approval Period or Extended Approval Period.

[4] Section 10 of Schedule A of the SPA provided that delivery of vacant possession of the property was to be within forty-two (42) calendar months from the date of the Approval Period or the Extended Approval Period.

In The High Court

[5] In their summary judgment application, the Plaintiffs contended that the forty-two-month (42) period should be computed from 2 August 2012, being the date when both requisite approvals were obtained. By this calculation, delivery of vacant possession was due on 1 February 2016.

[6] The Plaintiffs alleged that, as delivery occurred after that date, they were entitled to LD for the period of delay, calculated at the contractual rate of 10% per annum on the purchase price, on a daily rest basis.