JUDGMENT

Yusrin Faidz Yusoff JC:

Introduction

[1] This case involves a Shariah-compliant financing arrangement between Maybank Islamic Berhad ("the plaintiff") and C & L Minerals Sdn Bhd ("D1"). The facilities were extended to D1 and secured by personal guarantees from its two directors, Choo Ken Lon ("D2") and Teng Ai Leng ("D3"). The Plaintiff contends that D1 has defaulted on repayment and now applies for summary judgment on the basis that its claims are clear and undisputed. The defendants oppose the application, contending that genuine legal and factual issues exist which should be tried. This judgment considers whether those issues amount to triable matters or whether summary judgment ought to be granted.

Background Facts

[2] D1 was the customer of the Plaintiff bank, who had applied for the financing of its quarry and building supplies business. By three (3) separate letters of offer dated 6 April 2020, 15 June 2022, and 15 February 2022, the plaintiff extended the following Facilities:

(a) A Commodity Murabahah Term Financing-i (CMTF-i) facility of RM1,000,000.00 under Account No 46342-601200; and

(b) A trade-related facility (LC-i/TR-i/BG-i/IF-i) for the sum of RM1,000,000.00 and