Malayan Banking Berhad (No. Syarikat: 196001000142 (3812-K) Cheong Hock @ Cheong Kim Hock

Malayan Banking Berhad (No. Syarikat: 196001000142 (3812-K) Cheong Hock @ Cheong Kim Hock

The High Court held the production of the FD receipts established a prima facie entitlement to the principal sum of RM138,000 and the Defendant failed to show a bona fide triable defence to the principal claim, thus confirming summary judgment for the principal. However, the interest element was not a clear-cut matter because the 7.90% rate was stated for a one-month term and bank rates fluctuate; therefore the interest claim raised triable issues and was set aside and remitted to the Sessions Court for trial. General and exemplary damages were abandoned by the Plaintiff and struck down.

Citation
JA-12A-NCvC-15-09/2020 (Mahkamah Tinggi)
Parties
Appellant/defendant: Malayan Banking Berhad; Respondent/plaintiff: Cheong Hock @ Cheong Kim Hock
Court
High Court
Jurisdiction
Malaysia
Judgment Date
30 May 2021
Case Number
JA-12A-NCvC-15-09/2020 (Mahkamah Tinggi)
Procedural Posture
Civil Appeal / Judgment on Appeal (high Court)
Outcome
Appeal allowed in part and dismissed in part; summary judgment confirmed for principal sum; interest and damages set aside or remitted
Legal Topics
Summary Judgment, Fixed Deposit, Interest Calculation, Unclaimed Monies, Affidavit Validity, Remittal for Trial
Source Language
Malay/English
Banking Contract Civil Procedure Evidence Damages Summary Judgment Fixed Deposit Interest Calculation +3 more

Case Brief

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Parties

Malayan Banking Berhad

Appellant/defendant

Cheong Hock @ Cheong Kim Hock

Respondent/plaintiff

Procedural Posture

Civil Appeal / Judgment on Appeal (high Court)

Legal Issues

  1. 1 Whether summary judgment was appropriate
  2. 2 Whether plaintiff proved entitlement to RM138,000 via FD receipts
  3. 3 Whether interest at 7.90% per annum from 11.11.1992 to judgment is payable

Ratio Decidendi

The High Court held the production of the FD receipts established a prima facie entitlement to the principal sum of RM138,000 and the Defendant failed to show a bona fide triable defence to the principal claim, thus confirming summary judgment for the principal. However, the interest element was not a clear-cut matter because the 7.90% rate was stated for a one-month term and bank rates fluctuate; therefore the interest claim raised triable issues and was set aside and remitted to the Sessions Court for trial. General and exemplary damages were abandoned by the Plaintiff and struck down.

Court Disposition

Appeal allowed in part and dismissed in part; summary judgment confirmed for principal sum; interest and damages set aside or remitted

Orders

  • Summary judgment confirmed for the principal sum of RM138,000 in favour of the Respondent
  • Interest element of 7.90% per annum struck down and remitted to the Sessions Court at Johor Bahru for trial