MONEYLENDERS ACT 1951

MONEYLENDERS (CONTROL AND LICENSING) REGULATIONS 2003

(Subregulation 10(1))

MONEYLENDING AGREEMENT (SECURED LOAN)

AN AGREEMENT made the day and year stated in section 1 of the First Schedule hereto between
the moneylender as specified in section 2 of the First Schedule ("the Lender") of the one part and
the borrower as specified in section 3 of the First Schedule ("the Borrower") of the other part.

WHEREAS the Lender is a licensed moneylender under the Moneylenders Act 1951 hereby
agrees to lend the Borrower and the Borrower agrees to borrow from the Lender for the purpose of
this agreement a sum of money as specified in section 4 of the First Schedule ("the Principal Sum").

NOW IT IS AGREED as follows:

Instalment repayment

1. The instalment repayments in this Agreement shall be due and payable without demand the
first of which is to be made on the .................... (date of the first repayment) and thereafter on
the ...............of each and every subsequent month until the expiration of the said ........... months
from the date hereof.

Default

2. (1) If default is made in the repayment upon the due date of any sum of instalment
payable to the Lender under this Agreement, whether in respect of principal or interest, the Lender
shall be entitled to charge simple interest on the unpaid sum of instalment which shall be calculated
at the rate of eight per centum per annum from day to day from the date of default in repayment of
the sum of instalment until that sum of instalment is paid, and any interest so charged shall not be
reckoned for the purposes of this Agreement as part of the interest charged in respect of the loan.

(2) The interest shall be calculated in accordance with the following formula:

where,

R represents sum of interest to be paid.

D represents the number of days in default.

S represents the sum of monthly instalment which is overdue.

Security

3. In consideration of this Agreement the Borrower agrees to lodge with the Lender the
security as specified in section 11 of the First Schedule ("the Security") and the Security shall be for
the duration of the repayment.
Lender's responsibility with regard to Security

4. (1) The Lender shall exercise the same care and diligence in the custody of the Security
as a prudent owner will exercise in the custody of his own property.

(2) The Lender shall be responsible for the loss of any Security, whether such loss is
caused by fire, theft, negligence or otherwise and shall also be responsible for the damage to the
Security caused by fire, theft, negligence or otherwise.

(3) In the case of any security destroyed or damaged by fire the value of the Security
shall, for the purposes of the compensation to the borrower, be assumed to be one quarter more than
the value of the Security so lodged.

(4) The Lender shall not encumber the Security for whatever purpose.

Right of action

5. (1) If the Borrower-

(a) fails to repay any sum of instalment payable or any part thereof and any
interest payable specified in Section 5 of the First Schedule for any period in
excess of twenty eight days after its due date; or

(b) commits an act of bankruptcy or enters into any composition or arrangement

with his creditors or, being a company, enters into liquidation, whether
compulsory or voluntary, the Lender may terminate this Agreement.

(2) Upon the occurrence of any of the events specified in subclause (1) herein, the
Lender shall give the Borrower not less than fourteen days a written notice to treat this Agreement
as having been repudiated by the Borrower and unless in the meanwhile such default alleged is
rectified or such unpaid sum of instalment and interest are paid, this Agreement shall at the expiry
of the said notice, at the option of the Lender be deemed to be annulled.

(3) In the event this Agreement has been terminated or annulled, the Lender may claim
the balance outstanding from the Borrower in accordance with the provisions under Order 45 of the
Subordinate Court Rules 1990 [P.U. (A) 97/1990] in case the balance outstanding does not exceed
two hundred and fifty thousand ringgit or Order 79 of the Rules of the High Court 1980 [P.U. (A)
50/1980] in case the balance outstanding is higher than two hundred and fifty thousand ringgit.

(4) Notwithstanding subclause (3) herein, the Lender shall be entitled to deal with the
Security for the purpose of claiming the balance outstanding from the Borrower as follows:

(a) where the Security is an immovable property, the property shall be dealt with
as provided for under order 83 of the Rules of the High Court 1980; or

(b) where the Security is a movable property, the Lender shall be at liberty to
dispose of the security by auction to be conducted by a licensed auctioneer.

(5) The Lender may bid for and purchase the Security lodged with him at the auction
and on such purchase he shall be deemed to be the rightful owner of the Security.

(6) Where the Security is auctioned, the Lender shall, within seven days after the
auction, forward to the Borrower a notice stating the particulars of the auction including the
proceeds of sale of the Security.
 (7) The Lender shall, within thirty days after the auction, pay the surplus from the
proceeds of sale of the Security, if any, to the Borrower.

(8) In the event the Lender fails to comply with subclause (7) herein, the Lender shall be
liable to pay the surplus sum to the Borrower together with liquidated damages calculated from day
to day at the rate of eight per centum per annum of the surplus sum from the expiry of thirty days
after the auction until the date the Lender pays the surplus sum.

(9) For the avoidance of doubt, any cause of action to claim the liquidated damages
specified in subclause (8) shall accrue on the expiry of thirty days after the auction.

Compliance with written law

6. The Lender shall, in relation to the moneylending business, conform to the provisions and
requirements of the Moneylenders Act 1951 and any written law for the time being in force
affecting the business.

Stamp duties and attestation fees

7. All stamp duties and attestation fees incurred in connection with this Agreement shall be
borne by the Borrower.

Service of documents

8. (1) Any notice, request or demand required to be served by either party hereto to the
other under this Agreement shall be in writing and shall be deemed to be sufficiently served-

(a) if it is sent by the party or his solicitors by A.R. registered post addressed to
the other party's address hereinbefore mentioned and in such case it shall be
deemed to have been received upon the expiry of a period of five days of
posting of such registered letter; or

(b) if it is given by the party or his solicitors by hand to the other party or his
solicitors.

(2) Any change of address by either party shall be communicated to the other.

Schedules

9. The Schedule hereto shall form part of this Agreement and shall be read, taken and
construed as an essential part of this Agreement.

Time essence of Agreement

10. Time shall be the essence of the Agreement in relation to all provisions of this Agreement.

Interpretation

11. In this Agreement,where the context so admits-

"Security" does not include a credit card,charge card,auto teller machine card, birth
certificate,identification card or pawn ticket.

Persons to be bound by Agreement

12. This Agreement shall be binding upon the successors in title and permitted assigns of the
Lender,the heirs,personal representatives,successors in title and permitted assigns of the Borrower.

IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first
above written.

SIGNED by the abovenamed )

Borrower )
Name: ........................................................................)
I.C./Co. Reg. No.:.......................................................)

SIGNED by the abovenamed )

Lender )
Name: ........................................................................)
I.C./Co. Reg. No.:.......................................................)

I, do solemnly and sincerely declare that I have explained the terms of this Agreement to the
Borrower and it appears to me that the Borrower has understood the nature and consequence of this
Agreement.

...............................................................
(Name of the attestor)
(Advocate and Solicitor,officer of the Judicial and
Legal Service,Commissioner for Oaths,District Officer,
Justice of the Peace or person appointed by the Minister)
 FIRST SCHEDULE

(which is to be taken read and construed as an integral part of this Agreement)

Section Item Particulars

No.
1. The day and year of this Agreement
2. Name, I.C.No., Company Registration
No., Licence No. and address of the
Lender
3. Name, I.C.No., Company Registration No.
and address of the Borrower
4. Principal Sum .........................................ringgit
(RM..............................................)
5. Interest rate The rate of interest is at
............. per centum
(............%) per annum.
6. Duration of repayment .............................. months from the
date of disbursement of the Principal
Sum.
7. Number of instalment repayments
8. Amount of each instalment repayment
9. Mode of repayment The first instalment to commence on
the ................. day of the month
following the date of disbursement of
the Principal Sum
10. Amount of final instalment repayment
11. Particulars of the Security
12. The value of the Security .............................................ringgit
(RM................................................)