Malaysia's Ann Joo, Southern Steel call off JV plan

Malaysia's Ann Joo Resources Berhad (AJRB) and Southern Steel Berhad (SSB) have mutually terminated a plan for a long steel manufacturing joint venture, citing uncertain market conditions created by the Covid-19 pandemic, the latter announced on Wednesday May 27.

The two companies signed a memorandum of understanding (MOU) in October last year where AJRB would take a 55% stake in the joint venture company with...


Lee Ken Kiat

May 29, 2020

03:56 GMT