GOLDEN WHEEL CREDIT SDN BHD v DATO' SIAH TEONG DIN

Case Significance

GOLDEN WHEEL CREDIT SDN BHD v DATO' SIAH TEONG DIN is a Court of Appeal (Mahkamah Rayuan) decision dated July 20, 2025 (citation: w-02nccw-757-05-2023). <p>Golden Wheel Credit, a licensed moneylender, sued Dato' Siah Teong Din for repayment of RM3.5 million in loans that were disbursed to Instant Bonus Sdn Bhd, a property development company. The High Court held the moneylending agreements were illegal and void, but the Court of Appeal reversed, finding the agreements were void (not illegal) for being in the wrong prescribed form and granted restitution of RM3,383,500 under section 66 of the Contracts Act 1950.</p> The panel comprised Azhahari Kamal bin Ramli, Faizah binti Jamaludin and Ravinthran a/l Paramaguru, with Faizah binti Jamaludin delivering the judgment. Counsel appearing: Alfred Lai Choong Wui (counsel for appellant), Derek Chin Tze Qi (counsel for respondent), Ho Weng Sze (counsel for appellant), Toh Mei Swan (counsel for appellant), Wai Chong Khuan (counsel for respondent).