Iconic Worldwide wins RM10mil counterclaim in legal dispute
KUALA LUMPUR: Iconic Worldwide Bhd has secured a RM10.1 million counterclaim in a legal case involving its subsidiary, Iconic Medicare Sdn Bhd, after the Penang High Court dismissed a RM15 million claim filed by Latex Form Sdn Bhd.
The court ruled on April 22 that Latex Form must pay the amount to Iconic Medicare within 21 days, along with five per cent annual interest from the date of judgment until full settlement.
Latex Form was also ordered to pay RM50,000 in legal costs, the company said in statement.
The case was related to a commercial dispute between the two parties and Iconic Worldwide said the outcome removes a significant material risk for the group.
Separately, the court had earlier ordered CeramTec Innovative Ceramic Engineering (M) Sdn Bhd to pay RM583,800 to Iconic Medicare in another case.
However, Iconic Medicare's additional claim of US$3.76 million (about RM16.52 million) in lost profits was dismissed. The company has filed an appeal.
Iconic Worldwide executive chairman Datuk Seri Tan Kean Tet said the court decisions validated the group's position and would allow it to refocus on core operations and future growth.
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Indeed, a day later, Cook tiptoed along the Trump tightrope after Apple shareholders overwhelmingly voted (97% overwhelmingly) to fully retain the company's policies and commitment to diversity, equity and inclusion – those dirty words Trump is trying to soap-scrub from our lips. The president fumed over the vote on Truth Social: 'Apple should get rid of DEI rules, not just make amendments to them. DEI was a hoax that has been very bad for our country. DEI is gone!' Cook affirmed to shareholders: 'We'll continue to work together to create a culture of belonging where everyone can do their best work.' Yet he also acknowledged that Apple might have to tweak its policies under the weight of legal challenges. He really tried. But he should have known. Heck, he had to have known. I'm not just saying so because Trump's petty proclivities are as transparent as cheap tissues, but because I've twice been able to sit down with Cook during his visits to Alabama. Been able to look him in the eye and talk about the value of education, about his appreciation of Rev. Martin Luther King, about Alabama. He's deep-thinking and approachable. In 2018, he told me: 'How do we as a state – I'm not a resident any longer but an 'interested outsider' – how do we give everyone equal access to a quality education so that everyone can realise the American Dream?' And he meant everyone. Two years later, Cook was in Birmingham to celebrate Apple's investment in transforming a historic downtown building into a coding incubator called Ed Farm. 'It's important that people know the art of the possible,' Cook told me that day, 'and the way to do that is to learn to code, even if you have no desire to code' He likely knew. Knew that only a slight slight – even a perceived slight – could cause his standing with Trump to slip and land on its iTush. Never mind that Cook may have had better things to do last month than board the presidential party plane for Trump's CashApp-me tour of the Middle East. To watch him be fawned over and open gifts like a birthday kid, including the used US$400mil (RM1.7bil) Boeing 'gift' from Trump's new besties in Qatar. An aircraft at least one expert believes might be a security risk. Possible listening devices on the plane, said Richard Aboulafia, managing director of AeroDynamic Advisory and an aviation analyst to NPR, could compromise all of us. Air Force One (the real one) is built for 'basically surviving a worst-case scenario like a nuclear war, or to avoid an aggressive pursuer,' he said. '(It is) more survivable and far more capable than a traditional passenger jet.' Even a US$400mil one. Cook missed the trip, and suddenly he's the bully's bullseye. Top dogs at Nvidia, BlackRock, OpenAI, Citigroup and the semiconductor company AMD scanned their boarding passes and tagged along. They knew. 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