GEORGE TOWN, May 8 – Bursa Malaysia-listed Iconic Worldwide Berhad has successfully resolved legal proceedings involving its subsidiary, Iconic Medicare Sdn Bhd, with a favorable High Court decision against Latex Form Sdn Bhd. The court dismissed LFSB’s RM15 million claim and awarded a partial counterclaim to Iconic Medicare.
Ordering LFSB to pay RM10.1 million in damages, plus 5% annual interest and RM50,000 in legal costs—marking a significant legal and financial win for the Group. This ruling, coupled with a previous February decision dismissing another RM44,190 claim from CeramTec Innovative Ceramic Engineering (M) Sdn. Bhd., reinforces Iconic Worldwide’s legal position.
Though one element of its USD3.76 million counterclaim in the CeramTec case was not allowed, the Group secured RM583,800 in compensation and is appealing the remaining judgment. Executive Chairman Dato’ Seri Tan Kean Tet emphasized the Group’s commitment to strengthening risk management and focusing on core growth strategies following these favorable outcomes.
