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 Moneylending Banking & Finance

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

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (a-02ncvcw-765-07-2020)