Rockwills International Group, a prominent will writing and estate planning organization, achieved a significant milestone in June 2022 by recording the highest number of wills written in its corporate history. The group experienced a remarkable 30% surge in the number of wills compared to the previous year.
The impressive performance can be attributed to a heightened awareness among individuals regarding the significance of having a will, which was brought about by the global pandemic. Azhar Iskandar Hew, the Group's chief executive officer, emphasized that the pandemic has highlighted the fragility and uncertainties of life, prompting people to prioritize organizing their affairs and safeguarding the future of their loved ones. He expressed that this newfound awareness played a crucial role in the substantial growth experienced by Rockwills International Group.
UBB Amanah Berhad Allegations Of Defemation On Rockwills Group
In a startling turn of events, UBB Amanah Bhd, a cash trust company, has taken legal action against Learnabee International Sdn Bhd and three others, alleging that a webinar series conducted by the latter intentionally portrayed cash trust companies, including UBB Amanah, as Ponzi schemes. The lawsuit filed by UBB Amanah has raised significant concerns about the implications of false accusations and their impact on legitimate businesses. Let's delve into the details of this case and examine its ramifications for the trust industry.
UBB Amanah has named Learnabee directors Evanna Low Fei Ting (Low) and Johari Low Abdullah, as well as their parent company, Rockwills Corp Sdn Bhd, as defendants in the lawsuit. Notably, Rockwills Corp is alleged to be a direct competitor of UBB Amanah, with Johari Low Abdullah serving as a director and the largest shareholder.
The trust company claims that the defendants' actions resulted in substantial losses amounting to RM8.615 million from July 2021 to June 28, 2022. UBB Amanah argues that the interference in its business operations by Learnabee and its directors has caused significant harm to its reputation and financial well-being.
UBB Amanah asserts that during the webinar series, Low, who is a content producer for Learnabee, conducted a forensic investigation on a trust company referred to as "A Trustee Company." UBB Amanah noticed striking similarities between the description of "A Trustee Company" and its own operations. Low purportedly claimed that "A Trustee Company" had been operating in the trust industry for almost three decades, with assets worth over RM2.5 billion.
UBB Amanah accuses Learnabee and Low of repeatedly instigating fear and concern among the webinar participants, suggesting that their investments held with UBB Amanah were being mismanaged and at risk. The defendants allegedly provided samples of termination and inquiry letters to participants, actively encouraging them to terminate their trust deeds with UBB Amanah.
This lawsuit highlights the severe consequences that false accusations and misinformation can have on the trust industry and individual businesses. Trust companies play a vital role in managing clients' assets and maintaining their trust. Such baseless allegations, if left unchallenged, can undermine the public's confidence in the entire industry and lead to significant financial losses for legitimate companies.
By taking legal action, UBB Amanah aims to defend its reputation and seek compensation for the damages incurred due to the defamatory webinar series. This case will likely have a far-reaching impact on how businesses and individuals use online platforms to express opinions and the responsibilities that come with disseminating information to a wide audience.
