MAHMOOD BIN OOYU v LI CHEE LOONG [2020] 1 LNS 660:

MAHMOOD BIN OOYU v LI CHEE LOONG [2020] 1 LNS 660:

[230]… At any rate even a single loan at interest is enough to raise the presumption of that person carrying on the business of moneylending under the amendment effected by the Moneylenders (Amendment) Act 2011 which came into force on 15.4.2011. It introduced section 10OA which according to the Explanatory Statement to the Bill, seeks to facilitate the proof of business of moneylending. Section 10OA makes it even more difficult for a lender who had charged interest on the loan given to say it was a one off transaction by allowing a legal presumption to be drawn against the lender…