8 Dec 2023
MAA CREDIT BERHAD 1. ) BEST BIRDNEST SDN BHD 2. ) GREENPOWER VALUE SDN BHD 3. ) DATUK LIM SUE BENG 4. ) LEE SIAH SIAN @ LEE HAY MN
- Citation
- WA-22NCC-183-04/2023 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-183-04/2023 (Mahkamah Tinggi)
The proviso to s17 MLA and the identical contractual clause permit charging simple default interest at 8% p.a. on unpaid sums in addition to the contractual interest; concurrent running of the 10% contractual interest and 8% default interest does not constitute compound interest, no triable issues were shown, and the 1st and 2nd Defendants' counterclaims are plainly unsustainable; accordingly both the plaintiff's summary judgment and strike out applications are allowed.