Abdul Malik Ishak J:

Introduction

[1] This was the plaintiff's appeal to the judge in chambers in encl. 12 against the decision of the learned deputy registrar who dismissed the plaintiff's application under O. 14 of the Rules of the High Court 1980 ("RHC"). I allowed the plaintiff's appeal in encl. 12 with costs and I, consequently, closed the court file since the matter had been disposed off. I now set out the reasons for doing so.

The Facts

[2] The plaintiff is a licensed money lending company under the Moneylenders Act 1951 and the plaintiff was given specific exemptions by the Ministry of Housing and Local Government under s. 2A(2) of the Moneylenders Act 1951. The plaintiff's licenses have been exhibited in the plaintiff's affidavit in encl. 6 as exh. "LTS10". The exemptions too have been gazetted in the Government gazette and marked as exh. "LTS11" annexed to encl. 6.

[3] The defendant, on the other hand, is an individual residing at No: 1, Jalan Padungan, Kuching, Sarawak.

[4] Now, at the request of the defendant and by way of a memorandum of agreement for a loan dated 23 May 1997, the plaintiff granted a term loan facility to the defendant for the colossal sum of