Malaysia seeks over US$250m in compensation from Norwegian firm over axed missile deal
Malaysia is demanding US$250 million in compensation from a Norwegian defence firm, after Norway revoked export approvals for a missile system. The missile systems were originally meant to equip six Littoral Combat Ships under Malaysia's long-delayed naval modernisation programme, which has already faced years of scrutiny over cost overruns and delays. Malaysia is seeking compensation covering both direct and indirect losses — including payments already made for the missile system, as well as the cost of dismantling and replacing equipment already installed, as well as retraining naval personnel. Malaysia says it had already paid around RM583 million (US$146 million), or about 95% of the contract value. Afifah Ariffin reports from Kuala Lumpur.
Malaysia is demanding US$250 million in compensation from a Norwegian defence firm, after Norway revoked export approvals for a missile system. The missile systems were originally meant to equip six Littoral Combat Ships under Malaysia's long-delayed naval modernisation programme, which has already faced years of scrutiny over cost overruns and delays. Malaysia is seeking compensation covering both direct and indirect losses — including payments already made for the missile system, as well as the cost of dismantling and replacing equipment already installed, as well as retraining naval personnel. Malaysia says it had already paid around RM583 million (US$146 million), or about 95% of the contract value. Afifah Ariffin reports from Kuala Lumpur.
Popular Shows
