Latest news with #CMG
New Straits Times
2 days ago
- Business
- New Straits Times
MITI concludes probe into Osaka Expo pavilion dispute
KUALA LUMPUR: The Investment, Trade and Industry Ministry (MITI) has concluded its internal investigation into allegations of creative appropriation involving the Malaysia Pavilion at Expo 2025 Osaka. In a response to Business Times, the ministry said it has also initiated contact with Current Media Group (CMG) for further engagement, although it did not disclose the findings of its inquiry. "MITI has completed its investigation on this matter. We have contacted CMG and will engage them further," the ministry said. The update follows a statement by CMG announcing that it had served MITI with a formal letter of demand. The company said the move came after "more than two months of silence" from MITI, despite the ministry's earlier pledge to investigate claims that the pavilion's concept, theme and narrative closely resembled a proposal submitted by CMG prior to the official tender process. CMG founder Fey Ilyas first raised the issue publicly on April 25, highlighting alleged similarities between its proposal and the final design adopted for the Malaysia Pavilion. The post drew public attention and prompted MITI to announce, on April 26, that it would conduct an internal inquiry. However, CMG claimed that since that announcement, there had been no follow-up from MITI in the form of document requests, interviews or progress updates. The company said it resorted to legal action after exhausting informal channels. "After exhausting all informal avenues for dialogue and giving MITI ample time to act in good faith, CMG instructed its counsel to formally issue a letter of demand on July 17 seeking formal acknowledgment of CMG's contributions and fair compensation," it said. "Should MITI fail to respond satisfactorily within the statutory period, CMG will pursue every legal remedy available under Malaysian law. "CMG reiterates its willingness to engage in constructive mediation at any time, so long as that process is undertaken in good faith, recognises the value of creative labour, and upholds equitable terms," it added.
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
CMG sends LOD to MITI regarding designs used at Osaka World Expo
DIRECT marketing firm Current Media Group (CMG) has sent a letter of demand (LOD) to the Ministry of Investment, Trade and Industry (MITI) regarding the latter's use of its designs in the Malaysian pavilion at the Osaka World Expo in Japan which the company said was without permission. CMG is also requesting a formal recognition for its contributions. The company said the LOD was issued yesterday after all informal attempts at communication had failed and MITI was given sufficient time to respond in good faith. 'Should MITI fail to respond satisfactorily within the statutory period, CMG will pursue every legal remedy available under Malaysian law,' it said in a statement. On April 25, CMG founder Fey Ilyas took to social media and accused MITI of using his company's designs for the expo without payment or credit. He added that the company was hired in 2022 to develop the pavilion's concept, theme and architecture, and had presented the proposal to key figures including MITI Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Fey shared that the company was promised it would be officially appointed for the project but was told in January 2023 that the appointment would not proceed and the ministry wanted to open a tender. He claimed that for two years, CMG faced delays and was denied proper recognition or fair compensation for its work. Moreover, Fey explained that CMG was advised to remain silent to avoid risking future opportunities. MITI later announced it was investigating the allegation and would take legal action if needed, but according to CMG, the ministry has not contacted it for any documents, interviews or clarification, and has not provided any meaningful update on the investigation since then. 'CMG reiterates its willingness to engage in constructive mediation at any time, so long as that process is undertaken in good faith, recognises the value of creative labour and upholds equitable terms,' it said. — TMR
Malaysiakini
2 days ago
- Business
- Malaysiakini
Miti served letter of demand over alleged creative appropriation
The Investment, Trade and Industry Ministry has been hit with a letter of demand seeking compensation and acknowledgement of a direct marketing company's designs for the Malaysian pavilion at the Osaka World Expo in Japan. The company, Current Media Group (CMG), instructed its counsel to formally issue the legal demand on July 17. In a statement today, CMG said it decided to pursue legal action against the ministry after exhausting all informal avenues for dialogue and giving the ministry ample time to act in good faith.
New Straits Times
2 days ago
- Business
- New Straits Times
Miti served LOD over alleged use of creative firm's pavilion design
KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) has been served a letter of demand from a creative consultancy company who is seeking acknowledgement and compensation for use of the firm's designs for the Malaysian pavilion at the Osaka World Expo in Japan. In a statement, Current Media Group (CMG) said should Miti fail to respond satisfactorily within the statutory period, it would pursue every legal remedy available through the law. "After exhausting all informal avenues for dialogue and giving Miti ample time to act in good faith, CMG instructed its counsel to formally issue a Letter of Demand on July 17 seeking formal acknowledgment of CMG's contributions and fair compensation. "Should Miti fail to respond satisfactorily within the statutory period, CMG will pursue every legal remedy available under Malaysian law. "CMG reiterates its willingness to engage in constructive mediation at any time, so long as that process is undertaken in good faith, recognises the value of creative labour, and upholds equitable terms," it said. On April 25, CMG's founder Fey Ilyas claimed that the concept, theme, and narrative structure of the Malaysia Pavilion bore clear similarities to the proposal CMG developed and presented to Miti before the official tender process. The post quickly garnered attention, prompting Miti to issue a statement on April 26 indicating that an internal investigation was under way.
Yahoo
3 days ago
- Business
- Yahoo
Chipotle price target raised to $60 from $49 at Stephens
Stephens analyst Jim Salera raised the firm's price target on Chipotle (CMG) to $60 from $49 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the restaurant group as part of a Q2 earnings preview. Sentiment regarding restaurants is more optimistic exiting Q2 compared to the beginning of the quarter, the analyst tells investors in a research note. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on CMG: Disclaimer & DisclosureReport an Issue Rivian downgraded, PayPal upgraded: Wall Street's top analyst calls Melius starts restaurants with Sells on McDonald's and Starbucks Chipotle initiated with a Hold at Melius Research FedEx, Chipotle, Intuit, MongoDB, Sunrun: Insider Stock Sales Unveiled Optimistic Buy Rating for Chipotle Amid Growth Initiatives and Improved Outlook Sign in to access your portfolio
