1. ) TRIPLE ZEST TRADING & SUPPLIERS SDN.BHD 2. ) JUNAIDAH BINTI LEMAN 3. ) MUHAMAD FAIRUZ BIN ROSLAN v APPLIED BUSINESS TECHNOLOGIES SDN.BHD

a-02ncvcw-765-07-2020 Court of Appeal (Mahkamah Rayuan) 26 July 2021 • A-02(NCvC)(W)-765-07/2020

Catchwords

Contract — Loan Agreement and Personal Guarantee by Directors — friendly loan — Agreed Profit — excessive rate of interest — Defendants defaulted repayment of the loan — Whether contract is a ‘friendly loan’ or in reality an illegal moneylending transaction in contravention of the Moneylenders Act 1951 — whether the plaintiff had carried out the business of moneylending — Whether transaction fell within s 10OA of Moneylenders Act 1951 (‘MA’) to raise presumption that plaintiff was moneylender — Whether the presumption of carrying on the business of moneylending had been rebutted by the plaintiff.

Practice Areas

Contract

Judges (3)

Azizah binti Haji Nawawi Coram Lee Swee Seng Delivered Supang Lian Coram

Parties (4)

APPLIED BUSINESS TECHNOLOGIES Sdn Bhd Respondent TRIPLE ZEST TRADING & SUPPLIERS Sdn Bhd Appellant Junaidah binti Leman Appellant Muhamad Fairuz bin Roslan Appellant

Case Significance

1. ) TRIPLE ZEST TRADING & SUPPLIERS SDN.BHD 2. ) JUNAIDAH BINTI LEMAN 3. ) M... is a Court of Appeal (Mahkamah Rayuan) decision dated July 26, 2021 (citation: a-02ncvcw-765-07-2020). The panel comprised Azizah binti Haji Nawawi, Lee Swee Seng and Supang Lian, with Lee Swee Seng delivering the judgment.

What was the outcome of 1. ) TRIPLE ZEST TRADING & SUPPLIERS SDN.BHD 2. ) JUNAIDAH BINTI LEMAN 3. ) M...?

1. ) TRIPLE ZEST TRADING & SUPPLIERS SDN.BHD 2. ) JUNAIDAH BINTI LEMAN 3. ) M... is a Court of Appeal decision dated July 26, 2021. The case was heard by Azizah binti Haji Nawawi. See the full judgment for details.