16 Jul 2025
KHARISMA WIRA SDN BHD 1. ) ACE CREDIT (M) SDN. BHD. 2. ) CHOONG CHEE MENG 3. ) CHANG AI NEE
- Citation
- WA-22NCC-696-09/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-696-09/2023 (Mahkamah Tinggi)
The Agreement and its Appendices unambiguously created an investment obligation to pay the stated annual target return and to repay the invested sum at maturity; the directors' personal Guarantee bound the 2nd and 3rd defendants to ensure performance; the risk acknowledgment in section 4.03 did not render payments contingent on Ace Credit's financial performance; the Agreement was an investment/deposit arrangement not a moneylending transaction and s10OA presumption did not apply, therefore plaintiff succeeds for the sums, interest and costs claimed.