JUDGMENT

Wong Chee Lin J:

[1] This is an appeal by the Appellant (Plaintiff in the Court below) against the decision of the learned Magistrate's Court Judge allowing the application of the Respondent (Defendant in the Court below) to strike out the Appellant's claim pursuant to O 18 r 19(1) of the Rules of 2012. I have dismissed the appeal. These are the reasons for my decision.

[2] The background facts are very straightforward. The parties will be referred to as they were in the Court below.

[3] The Plaintiff is a licensed moneylender.

[4] On 5 March 2018, the Plaintiff and the Defendant entered into a loan agreement whereby the Plaintiff has agreed to provide a loan to the Defendant with interest at the rate of 18% per annum.

[5] The loan was released to the Defendant on 5 March 2018, the date of the moneylending agreement. A stamped copy of the agreement dated 5 March 2018 was delivered to the Defendant subsequently, on 9 March 2018.

[6] The Defendant defaulted in repayment of the loan and, by a letter of demand dated 15 February 2019, the Plaintiff demanded the outstanding sum and notified the Defendant that the moneylending agreement will be deemed terminated if the Defendant failed