Ferrari loses trademark suit in Malaysia over local energy drink's ‘Wee Power' horse logo
In a judgment dated May 30, Judge Adlin Abdul Majid dismissed Ferrari's challenge to block Sunrise-Mark's trademark registration, stating that the Italian carmaker's claims of potential confusion were unfounded, according to a report published in the New Straits Times today.
Ferrari had sought to overturn a decision by the Registrar of Trademarks which dismissed its opposition and allowed Sunrise-Mark's application for the 'Wee Power' trademark, featuring two rearing horses, a large 'W', and the words 'Wee Power'.
'The plaintiff's mark is a device mark with one rearing horse while the defendant's mark contains two rearing horses facing each other,' said Adlin, who found that the marks were visually and conceptually distinct.
She also accepted Sunrise-Mark's explanation that the word 'Wee' was derived from its founder's name, Wee Juan Chien, and not a reference to the English word meaning 'very small'.
Ferrari had argued that 'Wee' was generic and that 'Power' had been disclaimed in the registration, but the judge disagreed and found no evidence of an intent to mimic the Italian brand.
She further noted that the two companies operate in entirely different sectors — luxury vehicles versus consumable energy drinks — with no reasonable likelihood of customer confusion.
'It is unlikely that the average consumer would see the defendant's mark and form the impression that it is similar to the plaintiff's mark,' she added.
The court ordered Ferrari to pay costs, with PC Kok and Ng Pau Chze representing the carmaker, and YY Ho and Amirah Najihah Ameruddin appearing for Sunrise-Mark.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Goldman Sachs looking to bolster private wealth management team in Australia
Goldman Sachs Group is planning to expand its private wealth management team in Australia, reported Bloomberg. The expansion aims to serve self-made multimillionaires and families seeking to diversify their investments on a global scale. Currently, Goldman Sachs has a team of approximately 13 individuals, including eight advisers, operating out of Sydney and Melbourne, the report said. This team is focused on providing services to ultra-wealthy clients, each with investable assets of at least A$100m ($65m). In an interview, Goldman private wealth management head for Southeast Asia and Australia Jean-Paul Churchouse said: 'We are absolutely looking to grow. 'We are looking to hire, but it's really about finding the right people rather than hitting a target.' Goldman Sachs' private wealth division was established four years ago and was the sole new private wealth team in the Asia-Pacific region at that time. The bank has expressed that this initiative is in its initial phase, with further growth anticipated. Goldman Sachs is offering Australian investors a gateway to the firm's global network of investment bankers and exclusive access to private deals. Churchouse stated: 'We've seen huge growth in family offices. Once families generate meaningful wealth, they're looking for professionals to manage that for them. 'They are very aware that they need to be thinking about investing from a global perspective, not just in Australia, and we really cater to that need.' Goldman Sachs' offerings for this segment include the management of complex family office portfolios, facilitating entry into specialist asset classes like private equity, and providing expert connections. The wall street bank also hosts client events, such as conferences and seminars, covering topics from philanthropy to climate change. He further added: 'Ultra-high-net-worth businesses take a really long time to grow because developing the relationships take so long. But we are very confident the business is going to continue to grow meaningfully and we will invest in it.' In terms of client servicing, the bank expects to align the number of clients per adviser with its international standard, which typically ranges between 20 and 25 clients per adviser. Recently, a Bloomberg report disclosed that Erich Bluhm is departing from Goldman Sachs Group, concluding a three-decade career in the financial sector. Bluhm, who has played a significant role in the bank's equity capital markets coverage for financial institutions in the Americas, is leaving due to personal reasons and does not intend to pursue another role in banking. "Goldman Sachs looking to bolster private wealth management team in Australia " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
42 minutes ago
- Yahoo
DIC opens sustainable packaging production facility in Jakarta, Indonesia
DIC Corporation has established a new production facility in Jakarta, Indonesia, for coatings suitable for direct food contact materials. The facility is situated on the site of the company's wholly owned subsidiary PT. DIC Graphics and is designed to meet the rising demand for sustainable packaging. The product lineup at the new facility includes high-performance coatings for paper such as HYDRECT, SunStar DFC OPV/Coating, among others. These products will enable the production of paperboard lunch boxes, pizza boxes, and paper cups with water and oil resistance, as well as sealing properties, without hindering recyclability. This facility aligns with the Hazard Analysis Critical Control Point food safety management system. The facility aims to produce 1,000 tonnes (t) of coatings annually by fiscal year 2030 (FY30) for markets in Asian countries, including China and Oceania. The facility is well-positioned to serve as an export base for the region, with potential future expansions considered by DIC. The facility has features such as air showers, dusters with high-efficiency particulate air filters, and antibacterial flooring, to ensure safety and quality for direct food contact materials. The plant has also received certification for compliance with Indonesia's halal regulations and adheres to the World Health Organization's (WHO) good manufacturing practices (GMPs). DIC's high-performance coatings allow for the creation of recyclable monomaterial packaging by being applicable to various substrates, thus facilitating the development of easily recyclable packaging solutions. The new facility represents the DIC Group's first foray in Asia, outside of Japan, into producing coatings for the market. This move is in line with the DIC Vision 2030 long-term management plan, which includes advancing efforts to respond to a circular economy as one of its key sustainability strategies. The group is also expanding its sustainable packaging materials lineup to cater to next-generation market needs. The investment in this new facility enables the group to offer high-performance products, previously developed in the US, Europe, and Japan, to local markets in Asia and Oceania. "DIC opens sustainable packaging production facility in Jakarta, Indonesia" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Vietnam Fintech Market Worth Over USD 50 Billion by 2030, Rising at 21.48% CAGR: Insights Into Competitive Dynamics, Emerging Trends and Regulatory Challenges
Key opportunities in Vietnam's fintech market include leveraging the rapid adoption of digital payments and mobile wallets, driven by a young, tech-savvy population and increasing smartphone and internet use Vietnamese Fintech Market Dublin, Aug. 19, 2025 (GLOBE NEWSWIRE) -- The "Vietnam Fintech Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Vietnam Fintech Market was valued at USD 15.67 billion in 2024, and is expected to reach USD 50.21 billion by 2030, rising at a CAGR of 21.48%. The Vietnam fintech market has witnessed remarkable growth and transformation in recent years, making it one of the most dynamic and promising sectors of the country's financial industry. In Vietnam, fintech companies have played a pivotal role in enhancing financial inclusion, promoting digital payments, and expanding access to banking services. Vietnam's fintech market has experienced rapid growth, driven by factors such as a youthful and tech-savvy population, increasing internet penetration, and a growing middle class. Vietnam's fintech sector is largely driven by digital payments and mobile wallets. By the end of 2023, the country recorded 32.77 million active e-wallet users. Between 2021 and 2023, the average annual growth rate of payment transactions through internet and mobile channels reached 52% and 103.3%, respectively. Payments made via QR codes experienced a remarkable surge of over 170% in both volume and value. Key Market Driver Digital Transformation and Tech-Savvy Population: The market is being fueled by the growing adoption of digital payments, as consumers increasingly embrace mobile wallets, QR code transactions, and online banking. A major factor driving this growth is the rising smartphone penetration in Vietnam, which reached around 84% in 2024. Mobile devices have become the primary tool for accessing financial services and conducting transactions. Widespread access to the internet, especially through 4G and emerging 5G networks, has facilitated online financial activities. Consumers can easily access fintech services, make payments, and manage their finances from anywhere with an internet connection. Vietnam has a young and digitally-native population. Furthermore, the rise in venture capital investments in fintech startups is significantly contributing to the sector's growth, as investors look to capitalize on the market's promising potential. The adoption of fintech is also being accelerated by Vietnam's young, tech-savvy population-particularly millennials and Gen Z-who are more inclined to use digital financial services for online shopping. According to industry reports, non-cash payment transactions in Vietnam surged by 56.8% in volume during the first eleven months of 2024. Internet banking transactions grew by 50.7% in volume and 33% in value, while mobile banking saw a remarkable rise of 54.5% in volume and 34.3% in value. Fintech companies have played a significant role in promoting financial inclusion. They have reached underserved and unbanked populations by offering accessible and user-friendly financial services, such as digital lending and mobile banking. Key Market Challenge Regulatory and Compliance Challenges: One of the most significant challenges facing the Vietnamese fintech market is the lack of a well-defined and comprehensive regulatory framework. Although the government has made efforts to pilot regulatory sandboxes and support innovation, the legal infrastructure for fintech remains fragmented and slow to adapt. Currently, many fintech sectors-such as peer-to-peer lending, crypto-assets, and open banking-operate in legal grey areas, making it difficult for companies to innovate confidently or attract sustained investment. The absence of clear, unified regulations creates risks for both consumers and providers. Fintech startups struggle to navigate compliance issues, and international investors are often hesitant to invest due to regulatory ambiguity. Furthermore, the lack of data protection laws aligned with international standards limits the ability of firms to use customer data effectively while ensuring privacy and security. While Vietnam's central bank has introduced pilot programs for e-KYC and mobile money, there remains an urgent need for broader, consistent legislation to cover all fintech verticals. Until then, innovation will be stifled, and the market's true potential will remain untapped. Key Market Trend Digital Payments and Mobile Wallets: One of the most defining trends in Vietnam's fintech sector is the explosive growth of digital payments, especially through e-wallets. Driven by increasing smartphone penetration, rising internet usage, and a government push toward a cashless society, digital wallets like MoMo, ZaloPay, and ViettelPay have seen massive adoption. According to the State Bank of Vietnam, cashless payments increased by over 50% year-on-year in 2024, with mobile payments becoming the dominant mode of transaction among the youth and urban consumers. E-wallets are no longer limited to basic peer-to-peer transfers or bill payments; they now offer a range of services including insurance, savings, ticket booking, and online shopping integration. Their success is also supported by aggressive promotional campaigns and partnerships with banks, retailers, and utility providers. The government's national digital transformation agenda has further accelerated this trend by supporting QR code standardization and mobile payment adoption in rural areas. However, the market is becoming saturated, and competition among wallet providers is intensifying. To maintain user engagement, e-wallets are evolving into 'super apps' that combine financial and lifestyle services. This trend is expected to continue, reshaping how Vietnamese consumers access and use financial products daily. Key Players Profiled in Vietnam's Fintech Market: MoMo Zalo Pay AirPay Moca TIMA VayMuon TrustCircle Hudong TheBank iWealth Report Scope In this report, the Vietnam fintech market has been segmented into the following categories: By Technology: API AI Blockchain Distributed Computing Others By Service: Payment Fund Transfer Personal Finance Loans Insurance Others By Application: Banking Insurance Securities Others By Region: Northern Vietnam Southern Vietnam Central Vietnam Key Attributes Report Attribute Details No. of Pages 83 Forecast Period 2024-2030 Estimated Market Value (USD) in 2024 $15.67 Billion Forecasted Market Value (USD) by 2030 $50.21 Billion Compound Annual Growth Rate 21.4% Regions Covered Vietnam For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Vietnamese Fintech Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
