BANK GUARANTEE

THIS AGREEMENT is made on the day of , 2001

BETWEEN

1) (hereinafter referred to as “the Guarantor”) of the one

part;

AND

2) …… (hereinafter referred to as “the Stakeholders”) of

the other part.

WHEREAS :-

A) Pursuant to a joint venture agreement dated the day of ,

2001 (hereinafter referred to as the “Joint Venture Agreement”) entered into between
…….(hereinafter referred to as GSB, CCB and SSSB respectively), GSB, CCB and SSSB have
collectively agreed to carry out the Project Works as is defined in the Joint Venture
Agreement.

B) Pursuant to the Joint Venture Agreement, GSB, CCB and SSSB have
agreed to appoint Messrs. ….. as stakeholders with the powers to act according to the
provisions as are set out in the Joint Venture Agreement.

C) By virtue of Clause 6.1 (ii) of the Joint Venture Agreement, it was

agreed that GSB, CCB and SSSB would each provide an irrevocable bank guarantee in
favour of the Stakeholders for an amount equivalent to their respective Proportionate
Share as is defined in the Joint Venture Agreement, which guarantees are to be
deposited with the Stakeholders and by virtue of Clause 7.4 of the Joint Venture
Agreement, the Stakeholders are entitled to call upon the guarantee deposited by a
party in the event of a default in the payment of any progress payment claim due in
respect of the Project Works by the party and to apply the monies received pursuant to
the Guarantee for the purposes of settling the progress payment claim due.

D) In consideration of (CCB) entering into the Joint Venture Agreement

with (GSB) and (SSSB) to collectively carry out the Project Works upon the terms and
conditions as are set out in the Joint Venture Agreement, WE the undersigned, at the
request of (CCB) hereby irrevocably undertake to provide a guarantee to the
Stakeholders.
E) The Guarantor has agreed to issue this guarantee pursuant to Clause
6.1(ii) of the Joint Venture Agreement, on the following terms and conditions
hereinafter appearing.

NOW IT IS HEREBY MUTUALLY AGREED as follows :-

1) The Guarantor shall forthwith upon a written demand received from the Stakeholders
(whether such demand be made at one time or from time to time),make immediate
payment of the amount specified in such demand(s) PROVIDED ALWAYS that the total
aggregate of the payment(s) demanded shall not exceed the limit of Ringgit
Malaysia……………(RM………..) only.

2) The Guarantor shall not be discharged of its obligations under this Guarantee by any
arrangement or composition entered into between CCB GSB and SSSB (whether with or
without the consent of the Guarantor) or by any variation of the obligations to be
performed by (CCB) or by any waiver or indulgence given by (GSB) and/or (SSSB).

3) This Guarantee is continuing and irrevocable and shall be valid for a period of TWELVE
(12) months from the…. day of……….,2001 till the…… day of….., 2001.

4) All obligations and/or liabilities of the Guarantor under this Guarantee shall cease to be
of further force and effect and this Guarantee shall be deemed to be terminated upon
the expiry of the Estimated Duration as is defined in the Joint Venture Agreement
PROVIDED ALWAYS that the provisions of Clause 7.7 (b) of the Joint Venture Agreement
have been complied with.

5) Any notices required to be sent or given to any parties herein shall be sent by certified
or prepaid AR registered mail to the other party at its last known address or such other
addresses as may hereafter be given by written notice in accordance with the provisions
of this clause and shall be deemed to be given when it ought in the ordinary course of
post be delivered.

6) All claims and demands made pursuant to this Guarantee, if any, shall be made within
the terms of this Guarantee.

7) This Guarantee shall be governed and construed in all respect in accordance with the
laws of Malaysia and the parties hereby submit to the jurisdiction of the courts of
Malaysia.

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 IN WITNESS WHEREOF the parties hereto have hereunto set their respective hands the
day and year first above written.

Signed for and behalf )

of the Guarantor )
in the presence of:- )
)

Signed for and behalf )

of Messrs………………………………. )
in the presence of:- )
)