Introduction

[1] In this action, the Plaintiff (interchangeably "the bank") sought to recover from the Defendant (interchangeably "the borrower") an alleged outstanding sum of RM1,266,551.17 as at 25 December 2019; Interest at the rate of 7.85% [which is1.00% above the Bank's Base Lending Rate (the Bank's Current Base Lending Rate is 6.85% and is reviewed from time to time)] calculated from 26 December 2019 until the date of full settlement; and costs on a solicitors-client basis and full indemnity pursuant to a Facility for the sum RM3,600,000.00 ("the Facility") granted to the Defendant.

[2] During trial lasting 4 days, the bank called 2 witnesses to adduce evidence ie PW1 (Lim Chew Liang), PW2 (Tan Lay Juan) whilst the Defendant ("DW1") gave evidence as well as called DW2, Datuk Tan Kwe Hee in support of the defence.

[3] I had on 13 April 2023 allowed the Plaintiff's claim and given broad grounds. This judgment contains the full reasons for my decision. At the outset, I ought to say that on the facts of the present case, I am in accord with the arguments canvassed by the bank's counsel, Ms Jagjit Kaur and adopt parts of her submissions in these grounds.

Backgrou