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NewsLion Corp’s Megasteel slapped with TNB’s legal claim of RM159.5 million
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Lion Corp’s Megasteel slapped with TNB’s legal claim of RM159.5 million
by hlk Fri 13 Dec 2013, 19:56
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 13 December 2013 19:13
A + A - Reset
KUALA LUMPUR (Dec 13): Lion Corporation Bhd announced that its subsidiary
Megasteel Sdn Bhd has been served a writ of summons from Tenaga Nasional
Berhad (TNB), which has made a financial claim totalling RM159.5 million.
TNB is demanding RM145.3 million for the supply of electricity and RM14.2
million for overdue interest, according to Lion Corporation’s filing with Bursa.
It said TNB’s claim, dated 10 December 2013, named Megasteel as a
defendant.
“The financial claim made by TNB against Megasteel is RM145,296,772.89 for
the supply of electricity to Megasteel and RM14,239,990.69 for overdue
interest.”
Lion Corp said Megasteel is now seeking legal with regard to the writ of
summons and will engage TNB for settlement of the claim.
Written by Ho Wah Foon of theedgemalaysia.com
Friday, 13 December 2013 19:13
A + A - Reset
KUALA LUMPUR (Dec 13): Lion Corporation Bhd announced that its subsidiary
Megasteel Sdn Bhd has been served a writ of summons from Tenaga Nasional
Berhad (TNB), which has made a financial claim totalling RM159.5 million.
TNB is demanding RM145.3 million for the supply of electricity and RM14.2
million for overdue interest, according to Lion Corporation’s filing with Bursa.
It said TNB’s claim, dated 10 December 2013, named Megasteel as a
defendant.
“The financial claim made by TNB against Megasteel is RM145,296,772.89 for
the supply of electricity to Megasteel and RM14,239,990.69 for overdue
interest.”
Lion Corp said Megasteel is now seeking legal with regard to the writ of
summons and will engage TNB for settlement of the claim.
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