Lee Swee Seng JC:

PROLOGUE

[1]This is an application for summary judgment by the plaintiff bank against the defendant borrower for a loan taken by the borrower where he had defaulted. The Rules of the High Court 1980 (‘RHC’) allows for a summary procedure where through affidavit evidence alone, if it can be shown that the defendant has not been able to raise a triable issue that should justify the matter being set down for trial, then generally summary judgment is allowed to be entered against the defendant.

PROBLEM

[2]Bank Bumiputra Malaysia Bhd (‘BBMB’) had by its letter of offer dated 23February 1991 offered and the defendant accepted a term loan of RM103,485.74 and an overdraft facility of RM12,500 (together referred to as ‘the facilities’). As security for the facilities two charges were created by the defendant over his property in favour of BBMB. Upon the completion of the loan documentation and the registration of the charge with the land office, BBMB released the term loan to the defendant and allowed the defendant to utilise the overdraft facility.

[3]The assets, liabilities and business of BBMB were vested in Bank of Commerce (M) Bhd (BOC) by a vesting order of 3 September 19