Malaysia seeks $265m compensation from Norwegian firm

2 weeks ago

Malaysia is seeking €226.13 million (approximately $265 million) in compensation from a Norwegian defence firm following the cancellation of a contract, Defence Minister Mohamed Khaled Nordin said on Friday. The Norwegian Kongsberg Defence & Aerospace AS had signed a contract to supply Naval Strike Missiles for the Royal Malaysian Navy. The claim includes €129.86 million in direct losses for payments already made