28 Dec 2021
CUSTOMCRAFT (M) SDN BHD (Company No.: 290714-; YONG SIAK CHOONG (Identity Card No.: 571213-10-5295)
- Citation
- WA-22NCvC-228-05/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCvC-228-05/2020 (Mahkamah Tinggi)
On the balance of probabilities the RM150,000 were advance payments/loans to the 1st Defendant repayable on failure of the proposed joint venture; there was no contemporaneous documentation effecting a transfer of intellectual property from the 1st Defendant, the documentary record indicated IP belonged to Dr Wong and was assigned to Royal Capital Berhad with manufacturing rights to MB10, and the MOU was not a binding agreement; accordingly the 1st Defendant must repay RM150,000 with interest and no costs are awarded.