Malaysia demands US$257 million from Norwegian firm over axed missile deal
Malaysia's defence ministry has issued a formal demand for US$257 million from a Norwegian defence firm over a cancelled missile contract. The claim alleges breach of contract after the original agreement for naval strike missiles was terminated. The Norwegian company says it is reviewing the demand and remains open to dialogue.
- ▪Malaysia's Ministry of Defence sent a formal demand to the Norwegian firm for US$257 million in compensation after terminating a missile procurement contract.
- ▪The original agreement, signed in 2022, involved the purchase of Naval Strike Missile systems for the Royal Malaysian Navy.
- ▪Malaysia alleges the Norwegian company failed to meet contractual obligations, prompting the termination and the compensation claim.
- ▪The Norwegian firm has responded that it is reviewing the claim and is willing to discuss a resolution.
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