JUDGMENT

Wan Muhammad Amin Wan Yahya J:

[1] This was an appeal by the Appellants against the decision of the Sessions Court Judge dated 20 February 2024 allowing the Respondent's application for summary judgment under O 14 of the Rules of 2012 ("ROC") ("this Appeal").

[2] After hearing submissions from both parties, I dismissed this Appeal with costs. These are my grounds.

A) Salient Background Facts

[3] Via a Letter of Offer dated 12 February 2019, the Respondent offered the 1st Appellant a Term Loan facility under "SMEBiz Solution Portfolio Guarantee Scheme (PGS)" limited to RM500,000.00 for working capital purposes ("Facility").

[4] The salient terms of the Facility included:

i) Repayment in 84 monthly instalments of RM8,814.00;

ii) Interest rate of 5.00% per annum above the Bank's Base Lending Rate;

iii) Default interest at 1.0% per annum above prescribed rate;

iv) The facility was guaranteed by Credit Guarantee Corporation ("CGC Guarantee") for 70% of the total Facility amount (RM350,000.00).

[5] Through a Guarantee and Indemnity Agreement dated 28 February 2019, the 2nd and 3rd Appellants agreed to guarantee the 1st Appellant's obligations jointly and severally ("the guarantee").

[6]