12 Aug 2025
Luminor Credit Sdn. Bhd. Ronald Sim See Lei
- Citation
- WA-22NCC-483-07/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-483-07/2023 (Mahkamah Tinggi)
MLA1 breached mandatory provisions of the Moneylenders Act (unstamped and not delivered before disbursement; not attested; unlawful upfront deductions; failure to produce accounts) and is void and unenforceable ab initio; MLA2 complied with prescribed formalities and is enforceable but the court, exercising s.21(2) and s.23, reduced the recoverable sum by RM578,000 representing unlawful deductions and charges rolled into MLA2, and entered judgment for RM1,345,000 plus specified interest.