7 May 2025
ADEMCO SECURITY GROUP PTE. LTD. XECURETRONIX SDN. BHD.
- Citation
- WA-22NCC-269-04/2024 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-269-04/2024 (Mahkamah Tinggi)
On the balance of probabilities the Court found the advances were loans (not capital) repayable on demand; the company was not a party to the shareholders' agreement but contemporaneous documents and correspondence show the advances were loans subject to repayment and 8% p.a. interest; only RM190,547 was allowed as deduction for CMS equipment; Defendant owes RM1,648,453 plus 8% p.a. from 24-11-2020 until full realization and costs of RM20,000.