ALLIANCE BANK

Tempat dikeluarkan
Place of issue
* Muka surat 1 daripada 3
Page of
No. Jaminan Bank 029BGA0495979
Bank Guarantee No.
Memihak kepada PETRONAS GAS BERHAD
Favouring
Untuk amaun
For amount of
RM30,000-00
Tarikh
Dated 11 th June 2004

PETRONAS GAS BERHAD (Company NO.1 01671-H)

S~ah Alam Regional Office
Lot 1, Jalan Jemuju Lima 16/13E
40200 Shah Alam
Selangor Darul Ehsan

Dear Sirs,

Bank Guarantee No : 029BGA0495979

THIS AGREEMENT is made on the 10 th June 2004 between ALLIANCE BANK MALAYSIA
BERHAD (Company No. 88103-W) (hereinafter called the "Guarantor") of 151 Floor, Menara
Multi-Purpose, Capital Square, No.8, Jalan Munshi Abdullah, 50100 Kuala Lumpur of the one
part and PETRONAS GAS BERHAD (Company NO.1 01671-H) (hereinafter called the "PGB")
of the other part.

WHEREAS

1. In consideration of PGB allowing TERBIT KELANA DEVELOPMENT SON BHD

(Company No. 594783-M) (hereinafter referred to as the "Developer") of Lot 3.10, 3rd
=-.. .E Floor, Plaza Metro, Jalan Meru, 41050 Klang, Selangor Darul Ehsan or its servants,
:: ~
agents, employees, contractors to cross over the existing gas pipeline for the Proposed
Earthworks For Mixed Development Held Under Title No. H.S.{D) 85382, P.T. No.
45857 Measured 49.37 Acres At Mukim Kapar, Daerah Klang, Selangor Darul Ehsan
the Guarantor hereby irrevocably and unconditionally guarantees and undertakes the
payment to PGB, as principal debtor and not merely as surety, on first demand, fee of
offsets or counter claims, with our restrictions or conditions and notwithstanding any
contestation objection, arbitration, legal proceedings or protest by the Developer or by any
other third party such sums of money not exceeding the sum of RINGGIT MALAYSIA:
THIRTY THOUSAND ONLY (RM30,OOO.OO) which may at any time be claimed by PGB if
the Developer, or it contractors, their respective employees or agents shall while
performing the Earthworks cause any damage to any of the PGB Pipelines or other
properties at Mixed Development Held Under Title No. H.S.{D) 85382, P.T. No. 45857
Measured 49.37 Acres At Mukim Kapar, Daerah Klang, Selangor Darul Ehsan
(hereinafter called "the Said Event") resulting in PGB incurring loss or damage. The
Guarantor shall pay on first demand within seven (7) days after receipt of :

Alliance Bcmk Malaysia Berhacl (88103W)

No. J 40 461 * No. muka surat, No. Jaminan Bank, Nama benefisiari, Amaun dan Tarikh mesti dilengkapkan oleh cawangan pengeluar.
The Page No., Bank Guarantee 0., Beneficiary's name, Amount and Date must be completed by the issuing branch.
 ALLIANCE BANK

Tempat dikeluarkan
Place of issue
* Muka surat 2 daripada 3
Page of
No. Jaminan Bank 029BGA0495979
Bank Guarantee No.
Memihak kepada PETRONASGASBERHAD
Favouring
Untuk amaun
For amount of RM30,000-00
Tarikh
Dated 11 th June 2004

i) the writing demand from PGB stating that the Developer has become liable to pay
PGB the sum stated in the demand being the amount of loss or damage incurred
by PGB as a result of the Said Event, and

Ii) the certification in writing by PGB's authorized engineer or other authorized

signatory confirming that the Said Event has occurred. Provide always that the
total of all demands, whether partial or the full amount under this Bank Guarantee
so made shall not exceed the sum of RINGGIT MALAYSIA: THIRTY
THOUSAND ONLY (RM30,OOO.OO) and that the Guarantor's liability to pay PGB
as aforesaid shall correspondingly be reduced proportionate to any partial
demand having been made and paid as aforesaid.

2. The Guarantor shall not be discharged or released from this Bank Guarantee by any
arrangement between the Developer and PGB in whatever with or without consent of the
Guarantor or by any alteration in the obligations undertaken by the Developer or by any
forbearance whether as to payment, time, performance or otherwise.

3. This Bank Guarantee is a continuing security and shall be irrevocable and remain valid
effective from 14TH JUNE 2004 until 13TH JUNE 2005. Whereupon this Guarantee will be
of no further effect whether or not returned to the Guarantor for cancellation.

4. This Bank Guarantee shall bind the Guarantor and PGB and their respective successors-
in-title and assigns for the above mentioned sum, notwithstanding any amalgamations,
merger, reconstruction or any change in the constitution of the parties.

5. The liability of the Guarantor shall not be affected nor shall this Bank Guarantee be
discharged or diminished by reason of any change whatsoever in the constitution of the
Developer or by the Developer's liquidation or winding up or any legal limitation, disability,
incapacity or similar circumstance relating to the Developer.

6. The Guarantor hereby waives notice of acceptance and execution of this Bank Guarantee
by PGB.

7. This Bank Guarantee shall be governed by and construed exclusively in accordance with
the laws of Malaysia.

Alliance Bank Malaysia Berhad (88103-W)

No. 140462 * No. muka surat, No. Jaminan Bank, Nama benefisiari, Amau dan Tarikh mesti dilengkapkan oleh cawangan pengeluar.
The Page No., Bank Guarantee 0., Beneficiary's name, Amount and Date must be completed by the issuing branch.
 ALLIANCE BANK

Tempat dikeluarkan
Place of issue
* Muka surat 3 daripada 3
Page of
No. Jaminan Bank 029BGA0495979
Bank Guarantee No.
Memihak kepada PETRONASGASBERHAD
Favouring
Untuk amaun
For amount of RM30,000-00
Tarikh
Dated 11 th June 2004

Notwithstanding the expiry of the Bank Guarantee on 13TH JUNE 2005, the Guarantor hereby
agrees that PGB is still authorized to submit any demand/claims to the Guarantor, which shall
be accepted by the Guarantor if the demands/claims are submitted within 30 days from the
expiry date. Demands/claims, if any, must be made in writing and received by the Guarantor
on or before 13TH JULY 2005.

Accordingly all claims, demands and notices under and pursuant to the Guarantor must be
received by us on or before the aforesaid date, failing which our liabilities in respect thereof
shall be discharged and we are absolved from any obligation thereunder.

Given under our hand the date first above mentioned.

Signed for and on behalf of

Alliance Bank Malaysia Berhad (88103W)

,,~~- Q(~ -.
;i~~~i:;3~~:. ~~~~ ;~~;;t~~~ .
Trade Finance Centljf. Kuala Lumpur
Authorized Signatures

J\lIian e Bank Malaysia Berhad (88103W)

No. 140463 ,.. No. muka surat, No. Jaminan Bank, Nama benefisiari, Amaun dan Tarikh mesti dilengkapkan oleh cawangan pengelu2i.
The Page No., Bank Guarantee No" Beneficiary's name, Amount and Date must be completed by the issuing branch.