KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD v 1. ) WSJ INTERNATIONAL SDN. BHD. 2. ) NOR RAIHAN BINTI AHMAD KAMARUDIN 3. ) IQBAL BIN MOHD AYUB 4. ) MOHAMED BASIR BIN MAIDIN 5. ) RASHID BIN MAIDIN 6. ) MOHAMED IDRIS BIN MOHAMED 7. ) MOHAMED IZHAR BIN KHURSHED AHMAD 8. ) SELVARAJAN A/L MARUTHAMUTHU
8 cases cited
(0 SG, 8 foreign)
Catchwords
Civil Procedure – Islamic financing – Guarantees – Service of letter of demand – Whether letter of demand duly served via registered post – Deemed service provision – Effect of “principal debtor” clause – Whether prior demand necessary Contract – Guarantees – Islamic financing facilities – Individual guarantees – Liability of guarantors – Whether guarantors released under settlement agreement between bank and principal debtor – Privity of contract – Condition precedent for release – Default on settlement sum – Effect of express reservation of rights against guarantors Islamic Banking – Financing facilities – Murabahah – Tawarruq – Ijarah – Compensation fees (ta’widh) – Whether ta’widh constitutes prohibited interest (riba) – Shariah compliance – Permissibility of compensation for actual loss Evidence – Certificate of indebtedness – Conclusive evidence clause – Whether certificate prima facie proof of debt – Onus on defendant to show manifest error – Section 90A of the Evidence Act 1950 – Standard of proof for damages – Balance of probabilities Equity – Defences – Unconscionability – Retention of title as security – Whether inequitable conduct by bank – Clean hands – Equitable set-off – Failure to prove prejudice Banking – Guarantees – Realisation of securities – Right to proceed against guarantors without first realising other securities – Express contractual clause – Enforceability
Practice Areas
Judges (1)
Counsel (5)
Parties (9)
Kuwait Finance House Berhad Plaintiff WSJ INTERNATIONAL Sdn Bhd Defendant Iqbal bin Mohd Ayub Defendant Mohamed Basir bin Maidin Defendant Mohamed Idris bin Mohamed Defendant Mohamed Izhar bin Khurshed Ahmad Defendant Nor Raihan binti Ahmad Kamarudin Defendant Rashid bin Maidin Defendant Selvarajan a/l Maruthamuthu Defendant
Statutes Cited
Evidence Act 1950 (Cap 56)
Cases Cited (8)
MY (8)
[1986] 1 MLJ 16 [1989] 2 MLJ 305 [1994] 2 CLJ 1 [1995] 2 MLJ 363 [2006] 2 MLJ 685 [2011] 7 CLJ 594 [2016] 2 CLJ 610 [2025] 5 MLJ 290
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-22m-233-04-2019)