28 Oct 2025
1. ) TANG SER CHIEW 2. ) LIM YAR TING LEE MEI KIM
- Citation
- N-02(NCvC)(W)-792-05/2024 (Mahkamah Rayuan)
- Court
- NCvC
- Case number
- N-02(NCvC)(W)-792-05/2024 (Mahkamah Rayuan)
On the evidence as a whole the two SPAs were sham agreements masking an unlicensed moneylending transaction: the presumption under s10OA of the Moneylenders Act 1951 applied and the respondent failed to rebut it; agreements thus fell foul of s15 MA1951 and were unenforceable. The High Court erred in failing to address the moneylending issue; accordingly Appeal 792 and Appeal 802 were allowed, the High Court decision and injunction/order against the 5th defendant were set aside, with costs awarded.