1. ) NORAINI BINTI YATIM 2. ) MOHD FARIHAN BIN AZIZAN 3. ) EILEEN WONG MEI FOONG 4. ) NUR AIRA BINTI ABD RAHIM v 1. ) INTER CITY SERVICES & TRAVEL SDN BHD 2. ) NORANI BINTI ISMAIL 3. ) ZAKARIA HJ HASSAN BASAREE 4. ) NORMAN BIN ZAKARIA
Catchwords
Abstract and Keywords Abstract This case involved eleven investment agreements of RM2.2 million between family members and the company, where plaintiffs claimed fraudulent misrepresentation regarding non-existent projects. The defendants argued the agreements were disguised moneylending transactions contravening the Moneylenders Act 1951. In applying the principles in Triple Zest Trading & Suppliers v Applied Business Technologies Sdn Bhd, it was found that the agreements constituted illegal moneylending due to their characteristics of fixed 30% returns regardless of business performance, systematic lending patterns and identical structures across multiple transactions. The S 100A presumption that the plaintiffs were engaged in unlicensed moneylending remains unrebutted, rendering the agreements void ab initio and unenforceable under S 15. ________________________________________ Keywords Moneylenders Act 1951; illegal moneylending; disguised loan agreements; investment agreements; statutory presumption; Section 100A MLA 1951; void ab initio; Triple Zest Trading; fraudulent misrepresentation; unjust enrichment; sham agreements; unlicensed moneylenders; fixed returns; systematic lending; rebuttable presumption
Judges (1)
Case Significance
1. ) NORAINI BINTI YATIM 2. ) MOHD FARIHAN BIN AZIZAN 3. ) EILEEN WONG MEI FO... is a High Court (Mahkamah Tinggi) decision dated March 20, 2025 (citation: wa-22ncvc-448-08-2020). The case was decided by Arziah binti Mohamed Apandi.
Key issues: Abstract and Keywords.
What was the outcome of 1. ) NORAINI BINTI YATIM 2. ) MOHD FARIHAN BIN AZIZAN 3. ) EILEEN WONG MEI FO...?
1. ) NORAINI BINTI YATIM 2. ) MOHD FARIHAN BIN AZIZAN 3. ) EILEEN WONG MEI FO... is a High Court decision dated March 20, 2025. The case was heard by Arziah binti Mohamed Apandi. See the full judgment for details.
Judgment
Read the full judgment on the official Malaysia Courts portal.
Read on eJudgmentSource: eJudgment (wa-22ncvc-448-08-2020)