InstallShield 2013 Premier failed to start with error "license has been corrupted"

We have InstallShield 2013 Premier version and we have been using it with a floating license with no problem.

However, after I install the latest update prompted by IS, I can no longer start IS anymore with the exact same behaviour.

It will pop a dialog saying "The product license has been corrupted. Your must repair the license before you can continue. Click yes to repair now."
After clicking "Yes", a Repair license dialog will appear.
The process completes and the dialog shows "Repair Complete!"
However, clicking on "Finish" won't start IS.
And starting IS again will result in the same dialog saying license has been corrupted...


11-18-2014[06:28:49 PM]: Command Line: "E:\Program Files (x86)\InstallShield\2013\System\TSConfig.exe" -repair -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 66
11-18-2014[06:28:49 PM]: Using serial number from registry line: -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 211
11-18-2014[06:28:49 PM]: Doing repair -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 231
11-18-2014[06:28:49 PM]: Starting Wizard -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 306
11-18-2014[06:28:50 PM]: Setting current directory -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 365
11-18-2014[06:28:50 PM]: Initializing FLEXnet libraries -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 368
11-18-2014[06:28:50 PM]: Installing FLEXnet service -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 374
11-18-2014[06:28:51 PM]: flxActCommonLibraryInit: E:\Program Files (x86)\InstallShield\2013\System\TSConfig_libFNP.dll -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 386
11-18-2014[06:28:51 PM]: Opening TS -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 401
11-18-2014[06:28:51 PM]: Successfully initialized FLEXnet libraries -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 425
11-18-2014[06:28:51 PM]: Failed to initiate trial activation -- File: FLEXNetActivationWizard\ASRFile.cpp, Line: 125
11-18-2014[06:28:51 PM]: Error 50021 (88881, 0, 0), This ASR has already been activated. It can be activated only once, so this request has been refused. -- File: FLEXNetActivationWizard\ASRFile.cpp, Line: 126
11-18-2014[06:28:51 PM]: ASR has already been processed -- File: FLEXNetActivationWizard\ASRFile.cpp, Line: 132
11-18-2014[06:28:51 PM]: Found 1 items in TS -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 630
11-18-2014[06:28:51 PM]: Record FID-1416337867 needs to be repaired -- File: FLEXNetActivationWizard\FlexFulFillmentRecord.cpp, Line: 120
11-18-2014[06:28:51 PM]: Doing Repair -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 397
11-18-2014[06:28:51 PM]: Creating Repair Object -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 399
11-18-2014[06:28:51 PM]: Record FID-1416337867 cannot be repaired, skipping -- File: FLEXNetActivationWizard\FlexRepair.cpp, Line: 60
11-18-2014[06:28:51 PM]: Performing online Repair -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 429
11-18-2014[06:28:51 PM]: Setting remote server -- File: FLEXNetActivationWizard\FlexActionBase.cpp, Line: 99
11-18-2014[06:28:51 PM]: Setting Comms type -- File: FLEXNetActivationWizard\FlexActionBase.cpp, Line: 108
11-18-2014[06:28:51 PM]: Setting Internet callback -- File: FLEXNetActivationWizard\FlexActionBase.cpp, Line: 111
11-18-2014[06:28:51 PM]: Sending repair request -- File: FLEXNetActivationWizard\FlexRepair.cpp, Line: 89
11-18-2014[06:28:51 PM]: SOAP action: flxCommsStatusCreatingRequest -- File: FLEXNetActivationWizard\FlexActionBase.cpp, Line: 72
11-18-2014[06:28:52 PM]: Nothing reparied -- File: FLEXNetActivationWizard\FlexRepair.cpp, Line: 102
11-18-2014[06:28:52 PM]: Internet Repair succeeded -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 433
11-18-2014[06:28:54 PM]: Finished wizard -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 313
11-18-2014[06:28:54 PM]: Shutting down wizard -- File: FLEXNetActivationWizard\FLEXNetActivationWizSheet.cpp, Line: 42
11-18-2014[06:28:54 PM]: Shutting down activation manager -- File: FLEXNetActivationWizard\ISActivationManager.cpp, Line: 79
11-18-2014[06:28:54 PM]: CFlexLicenseManager::~CFlexLicenseManager -- File: FLexLicensing\FlexLicenseManager.cpp, Line: 52
11-18-2014[06:28:54 PM]: ~CFlexJobManager -- File: FLexLicensing\FlexJobManager.cpp, Line: 19
11-18-2014[06:28:54 PM]: Return code = 0 -- File: FLEXNetActivationWizard\FLEXNetActivationWizard.cpp, Line: 324


I saw there is a similar post in the 2013 Express forum:
http://flexera4.rssing.com/browser.p...69969&item=666

Anyone has similar experience?