MATERIAL LITIGATION ICONIC WORLDWIDE BERHAD ("ICONIC" or "the Company") - WRIT OF SUMMONS AND STATEMENT OF CLAIM RECEIVED BY ICONIC MEDICARE SDN BHD FROM LATEX FORM SDN BHD, HIGH COURT OF MALAYA AT PENANG (CIVIL SUIT NO. PA - 22 NCvC - 49 - 04 / 2024)

ICONIC WORLDWIDE BERHAD

Type Announcement
Subject MATERIAL LITIGATION
Description
ICONIC WORLDWIDE BERHAD ("ICONIC" or "the Company") 
 - WRIT OF SUMMONS AND STATEMENT OF CLAIM RECEIVED BY ICONIC MEDICARE SDN BHD FROM LATEX FORM SDN BHD, HIGH COURT OF MALAYA AT PENANG (CIVIL SUIT NO. PA - 22 NCvC - 49 - 04 / 2024)

We refer to our announcements on 18 August 2023 and 6 October 2023. Unless otherwise stated, the definitions and terms used herein shall have the same meaning as defined in the previous announcements.

The Board of Directors of the Company is pleased to announce that the High Court of Malaya, Penang had on 22 April 2025 delivered the judgement in favour of the Defendant, Iconic Medicare Sdn Bhd (“IMED”), a wholly-owned subsidiary of the Company.

In summary, the Court dismissed LFSB’s claim of RM15,038,004 in total and allowed IMED’s counterclaim in part. LFSB has been ordered to pay a judgement sum of RM10,115,000 to IMED within 21 days from the date of the judgement together with interest on the judgment sum at the rate of 5% per annum to be calculated from the date of judgment until the date of full payment.

Additionally, the Court ordered LFSB to pay costs of RM50,000 to IMED.

This announcement is dated 23 April 2025.






Announcement Info

Company Name ICONIC WORLDWIDE BERHAD
Stock Name ICONIC
Date Announced 23 Apr 2025
Category General Announcement for PLC
Reference Number GA1-23042025-00007