SCP HOLDINGS PTE LTD v I CONCEPT GLOBAL GROWTH FUND

Q: Which legislation does [2023] SGHC 269 consider?

The judgment refers to Moneylenders Act. The statutes cited are listed in full on this page, each linking to its primary text.

[2023] SGHC 269 High Court (General Division) 26 September 2023 HC/OA 421/2023 · HC/OSB 38/2023 15 min read

7 cases cited Cited by 1 case

Key facts

Court	High Court (General Division)
Decided	26 September 2023
Judge	Chua Lee Ming
Charges / claim	Contract, Insolvency Law, Credit and Security
Counsel	Dentons Rodyk & Davidson LLP, Virtus Law LLP, Tan Yi Lei, Too Fang Yi

Source: [2023] SGHC 269, High Court (General Division), decided 26 September 2023 — eLitigation. Updated 10 July 2026.

Catchwords

Contract — Formation Insolvency Law — Winding up Insolvency Law — Bankruptcy — Statutory demand Credit and Security — Money and moneylenders

Practice Areas

Contract Insolvency Law Credit and Security

Judges (1)

Chua Lee Ming Delivered

Counsel (4)

Dentons Rodyk & Davidson LLP Firm Virtus Law LLP Firm Tan Yi Lei Counsel Respondent Too Fang Yi Counsel Applicant

Parties (4)

I Concept Global Growth Fund Respondent SCP Holdings Pte Ltd Applicant Liw Chai Yuk Defendant Sim Eng Tong Claimant

Case Significance

SCP Holdings Pte Ltd v I Concept Global Growth Fund and another matter [2023] SGHC 269 is a grounds of decision of Chua Lee Ming J in the General Division of the High Court, delivered on 26 September 2023 in Originating Application No 421 of 2023 and Originating Summons (Bankruptcy) No 38 of 2023. OA 421 concerned a loan from I Concept Global Growth Fund to SCP Holdings Pte Ltd, while OSB 38 concerned a separate loan from Ms Liw Chai Yuk to Mr Sim Eng Tong; both applications sought to prevent winding-up and bankruptcy proceedings respectively and to set aside the statutory demands that had been issued. Chua Lee Ming J dismissed both OA 421 and OSB 38, and the applicant and claimant have appealed against the decisions.

[2023] SGHC 269 explained

SCP HOLDINGS PTE LTD v I CONCEPT GLOBAL GROWTH FUND ([2023] SGHC 269) is a Singapore judgment decided by the High Court (General Division) on 26 September 2023. It is categorised under Contract, Insolvency Law, and Credit and Security. Within this corpus it has since been cited by 1 other reported Singapore judgment, a measure of how often later decisions have referred to it. This page summarises what the reported decision covers and links the primary sources — the full judgment, the statutes it cites, and the other cases it engages with — so the decision can be read in context. It is reference information, not legal advice, and it does not state the outcome or any holding beyond what the official judgment records.

What is [2023] SGHC 269 about?

SCP HOLDINGS PTE LTD v I CONCEPT GLOBAL GROWTH FUND ([2023] SGHC 269) is a High Court (General Division) decision from 2023. Its published catchwords are “Contract — Formation”, “Insolvency Law — Winding up”, “Insolvency Law — Bankruptcy — Statutory demand”, and “Credit and Security — Money and moneylenders”, which indicate the subject matter the judgment addresses. The full reasoning and orders are in the judgment itself, linked below.

Which legislation does [2023] SGHC 269 consider?

The judgment refers to Moneylenders Act. The statutes cited are listed in full on this page, each linking to its primary text.

How influential is [2023] SGHC 269?

Within this corpus, [2023] SGHC 269 has been cited by 1 later reported Singapore judgment. That count reflects references from other decisions held in this corpus only and is a conservative lower bound on how often the case has actually been cited.

Summary

SCP Holdings Pte Ltd and Sim Eng Tong sought to restrain winding-up and bankruptcy proceedings and to set aside statutory demands arising from a $300,000 loan from I Concept Global Growth Fund to SCP and a separate loan from Liw Chai Yuk to Sim. The court held that Liw was not in the business of moneylending, as there was no system and continuity and no evidence she was ready to lend to all and sundry, rebutting the presumption under the Moneylenders Act. Both applications were dismissed.

What was SCP Holdings v I Concept Global Growth Fund [2023] SGHC 269 about?

It was two related applications before Chua Lee Ming J, decided on 26 September 2023, seeking to prevent winding-up and bankruptcy proceedings and to set aside statutory demands issued over loans, one from I Concept Global Growth Fund to SCP Holdings.

How did the court rule in [2023] SGHC 269?

Chua Lee Ming J dismissed both OA 421 and OSB 38, declining to set aside the statutory demands; the applicant SCP Holdings and claimant Sim Eng Tong have appealed against the decisions, which engaged the Moneylenders Act.