JUDGMENT

Quay Chew Soon J:

Introduction

[1] This is a claim by the Plaintiff ("P") against the Defendants for recovery of a loan in the sum of RM1 million, plus accrued interest. The 1st Defendant ("D1") in turn filed a counterclaim against P for a sum of RM500,000, on account of emotional stress suffered as a result of intimidation by P.

[2] After a full trial, I dismissed both P's claim and D1's counterclaim. Here are the grounds of my judgment.

The Plaintiff's Case

[3] P's case is this.

[4] On 24 January 2022, P and D1 signed a loan agreement dated 24 January 2022 ("loan agreement"). Pursuant to the loan agreement, P lent a sum of RM1 million ("loan") to D.

[5] The salient terms of the loan agreement are as follows:

(a) Clause 2 - Repayment of the Loan

"The Borrower hereby agree and undertake to repay the Loan free of interest to the Lender on demand and upon requested by the Lender but in any event not later than one (1) month from the date of this Agreement failing which an interest of 6.5 percentage per month on daily basis will be imposed on the Loan or any part thereof which is outstanding without prejudice to the rights of the Lender for remedies under cl 3 herein."

(b) Clause 3 - Ri