Malaysia demands US$257 million from Norwegian firm over axed missile deal

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Malaysia is demanding 257 million US dollars from a Norwegian defense company following the cancellation of a naval missile contract. The Malaysian Defense Minister stated the claim covers direct losses and consequential damages despite most of the contract having been paid.

Malaysia is seeking compensation of 226 million euros (US$257 million) from a Norwegian defence firm after a deal to deliver a naval missile system was cancelled, despite the Southeast Asian country having paid about 95 per cent of the contract value. The claim comprised 129.86 million euros in direct losses, including payments already made by the government, and 96.26 million euros for additional costs and consequential damages, Defence Minister Mohamed Khaled Nordin told parliament on Friday,...