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 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 RM10 million (herein