BANK KERJASAMA RAKYAT MALAYSIA BERHAD v 1. ) MDSA VENTURES SDN BHD 2. ) DATO' TAN JUNE TENG COLIN @ CHEN JUN TING 3. ) DATO' TAN PING HUANG EDWIN @ CHEN BING HUANG

wa-22m-1748-11-2023 High Court (Mahkamah Tinggi) 24 October 2024 • WA-22M-1748-11/2023

Catchwords

Civil procedure – Islamic banking – Summary judgment – Application for – Failure to make installment payments in respect of loan facility granted by plaintiff under Islamic financing facility based on commodity murabahah – Whether agreement complies with the Shariah concept of Tawarruq (Commodity Murabahah) – Whether plaintiff had established prima facie case and was entitled to summary judgment – Joint and several guarantee – Principal liability clause – Whether demand and termination letters are defective as it refers to loan amount prior to restructuring – Whether defendants admitted to the claim – Certificate of Indebtedness – Conclusive Evidence Clause – Whether ibra’ should be incorporated in certificate of indebtedness – Whether Murabahah Profit Rate and ta’widh excessive – Whether defendants have shown evidence of manifest error– Whether defendants successfully raised triable issues – Rules of Court 2012, Order 14 rr 1, 3 - Islamic Financial Services Act 2013, s.28 & s.281 – Federal Constitution, Item 7(j) of the Federal List (List I of the 9th Schedule).

Practice Areas

Civil procedure

Judges (1)

Yusrin Faidz bin Yusoff Delivered

Parties (4)

BANK KERJASAMA RAKYAT MALAYSIA BERHAD Plaintiff MDSA VENTURES Sdn Bhd Defendant Dato' Tan June Teng Colin @ Chen Jun Ting Defendant Dato' Tan Ping Huang Edwin @ Chen Bing Huang Defendant

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-22m-1748-11-2023)