23
Jun
13:11
Amsteel sues Ann Joo for wrongful contract termination
Ann Joo Resources has told Bursa Malaysia in a filing that its subsidiary, An Joo Steel, has received a writ from Amsteel Mills. The latter is seeking to reclaim MYR 14.96 million ($3.49m) in loss of profit from the termination of a contract. According to the allegations, Ann Joo cancelled a contract to supply billet to Amsteel, which it planned to re-roll as rebar and wire rod, Kallanish understands.
In addition, Amsteel is seeking damages of MYR 885,200 on the…
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