10 May 2024
ONG YEE MIAN OCBC BANK (MALAYSIA) BERHAD
- Citation
- W-02(NCC)(W)-1423-07/2022 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(W)-1423-07/2022 (Mahkamah Rayuan)
OCBC acted solely as distributor/agent under the Investment Services Terms & Conditions; the extension of the fund tenure was validly approved by unit holders in accordance with the Deed and binding on all unit holders; OCBC properly notified the appellant and the appellant's failure to respond constituted inaction amounting to waiver/laches and estoppel, therefore OCBC was not liable to refund the invested sum and the High Court judgment dismissing the claim was correctly affirmed.