Power Root Berhad announcement, that its wholly-owned subsidiaries in Indonesia have reached an amicable out-of-court settlement with CV Eg over the trademark issue in relation to the name Ah Huat.
This was over the Central Jakarta Commercial Court’s RM23 million verdict on its subsidiaries related to the AH HUAT trademark infringement claim by CV Ego Sun Star Sukses Mandiri.
The settlement agreement states CV Ego now recognises and acknowledge Power Roots ownership and rights on and to the trademarks bearing the “AH HUAT” which has been filed and registered worldwide. It will also see some payments being made to CV Ego as part of the deal for the company to set aside the RM23 million claim.
As final payment, Power Root to pay a total consideration of Rp.4,275,000,000 (equivalent to approximately RM1.26
million)
