MAA CREDIT BERHAD v 1. ) BEST BIRDNEST SDN BHD 2. ) GREENPOWER VALUE SDN BHD 3. ) DATUK LIM SUE BENG 4. ) LEE SIAH SIAN @ LEE HAY MN

wa-22ncc-183-04-2023 High Court (Mahkamah Tinggi) 7 December 2023 • WA-22NCC-183-04/2023 • 11 min read
5 cases cited (0 SG, 5 foreign)

Outcome

E] CONCLUSION [29] For the reasons stated above, I allowed the Applications for stay of execution of the Summary Judgment pending disposal of the Appeals subject to the condition that the Defendants jointly or severally deposit the principal judgment sum of RM31,776,003.47 with the 1st Defendant’s solicitors as stakeholders within 14 days. As for costs, given the mixed outcome with stay granted but subject to conditions, I made no order as to costs.

Quoted verbatim from the judgment of High Court (Mahkamah Tinggi) (wa-22ncc-183-04-2023). Read the full judgment on the official Malaysia Courts portal for the complete decision.

Catchwords

Summary Judgment of main claim - Striking Out of counterclaim - main claim and counterclaim deal with same issue - licensed moneylender - whether the licensed moneylender can charge 8% penalty interest in addition to loan interest in the event of default - whether proviso to Section 17 Moneylenders Act 1951 only allows for penalty interest to be charged after default - whether loan interest must stop upon default - whether triable issue raised

Practice Areas

Moneylending Civil Procedure

Judges (1)

Wan Muhammad Amin bin Wan Yahya Delivered

Counsel (10)

Azmi Fadzly Maha & Sim Firm Kriishand G Krishnan Firm Raja, Darryl & Loh Firm S Ravenesan Firm Cheong Tick Soon Counsel Plaintiff Jasneeta Kaur Bhullar Counsel Defendant Kriishand a/l Gopala Krishnan Counsel Defendant Mohammad Danial bin Hazizan Counsel Defendant Muhammad Thaqif Rusyaidi Counsel Defendant Teoh Chye Yi Counsel Plaintiff

Parties (5)

BEST BIRDNEST Sdn Bhd Defendant GREENPOWER VALUE Sdn Bhd Defendant MAA CREDIT BERHAD Plaintiff Datuk Lim Sue Beng Defendant Lee Siah Sian @ Lee Hay Mn Defendant

Statutes Cited

Courts of Judicature Act 1964 (Cap 91)
Rules of Court 2012

Cases Cited (5)

MY (5)
[1953] 1 MLJ 116 [1997] 2 MLJ 1 [2002] 3 MLJ 49 [2004] 1 MLJ 257 [2016] MLJU 1252

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-22ncc-183-04-2023)