By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > Swiss watchmaker Swatch sues Malaysia for seizure of Pride watches
Stocks

Swiss watchmaker Swatch sues Malaysia for seizure of Pride watches

News Room
Last updated: 2023/07/17 at 10:51 AM
By News Room
Share
3 Min Read
SHARE

© Reuters. FILE PHOTO: The logo of Swiss watch manufacturer Swatch is seen at a shop at Buergenstock Hotels & Resort on Buergenstock near Lucerne, Switzerland January 16, 2020. REUTERS/Arnd Wiegmann

KUALA LUMPUR (Reuters) -Swiss watchmaker Swatch Group (SIX:) has filed a lawsuit against the Malaysian government for confiscating rainbow-coloured watches that celebrate LGBT rights, in an act the company says has damaged its reputation.

Homosexuality is a crime in Muslim-majority Malaysia, and rights groups have warned of growing intolerance against the country’s lesbian, gay, bisexual, transgender and queer (LGBTQ) community.

In May, Malaysian authorities confiscated watches from Swatch’s ‘Pride collection’ because of the presence of the letters ‘LGBTQ’ on the watches, the home minister said.

Home ministry officials “illegally” seized 172 watches from 16 outlets, Swatch said in court documents seen by Reuters.

The lawsuit, filed on June 24 at the Kuala Lumpur high court, was first reported on Monday by the Malay Mail, a Malaysian news website.

“Without a doubt, the seized watches did not and are not in any way capable of causing any disruption to public order or morality or any violations of the law,” Swatch said in the lawsuit.

The seizure notices served to Swatch described the watches as having elements of or promoting LGBTQ rights and potentially breaching Malaysian law, the company said.

Most of the seized watches, which have a combined retail value of 64,795 ringgit ($14,250.05), did not contain the ‘LGBTQ’ lettering, Swatch said.

Swatch is seeking damages and the return of the watches, saying its ability to do business in the country has been “greatly jeopardised” by the seizures.

Swatch Group said on Monday it does not comment about ongoing legal cases.

Malaysia’s home ministry did not immediately respond to a request for comment.

The Kuala Lumpur high court is set to hear the case on July 20.

Malaysia has jailed or caned people for homosexuality. Last year, 18 people were detained at a Halloween party attended by members of the LGBT community.

The seizure and lawsuit come ahead of crucial regional polls that will pit Prime Minister Anwar Ibrahim’s progressive coalition against a mostly conservative ethnic-Malay, Muslim alliance.

In the run up to the elections, Anwar has again been accused by critics of not doing enough to protect the rights of Muslims in multi-racial, multi-faith Malaysia.

Anwar was imprisoned for sodomy and corruption for nearly a decade, charges he denied and said were politically motivated.

The premier has repeatedly said this month that his government will uphold principles of Islam, state media reported. He has also said LGBT rights will not be recognised by his administration.

($1 = 4.5470 ringgit)

Read the full article here

News Room July 17, 2023 July 17, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Netflix misses Q3 earnings estimates, meme stock trade returns as Beyond Meat rallies 1,300%

Watch full video on YouTube

How subsea cables power the global internet

Watch full video on YouTube

Google and Anthropic reportedly in cloud deal talks, Netflix falls after earnings miss

Watch full video on YouTube

Why Manhattan Condos Are Selling At A Loss

Watch full video on YouTube

Delaware high court reinstates Elon Musk’s $56bn Tesla pay package

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?