Home > Business > Business News
Tuesday April 23, 2013 MYT 12:00:00 AM
Friday April 26, 2013 MYT 12:34:09 AM
KUALA LUMPUR: Mission NewEnergy Ltd’s subsidiary, Mission Biofuels Sdn Bhd (MBSB), has served KNM Process Systems Sdn Bhd with a winding-up petition.
In a statement yesterday, Mission NewEnergy said MBSB’s move follows KNM’s failure to pay it approximately A$3.8mil (RM12.2mil) plus interest.
This is in relation to the liquidated ascertained damages under the engineering, procurement, construction and commissioning contract of Mission NewEnergy’s second biodiesel refinery in Malaysia.
The invoices had been presented to KNM over the last two years, and despite a letter of demand served on KNM by MBSB’s solicitors, the company had failed to pay up.
Mission NewEnergy said the hearing of the petition would take place on July 18. – Bernama
Tags / Keywords:
News, Business, Business, Mission New Energy, KNM Process, biofuel
MNRB to issue RM250mil notes
Quill posts RM34m profit in FY12
Shares Of Samsung Electronics Extend Falls To More Than 4 Pct
Masterskill approves asset-light strategy
Pintaras secures RM30mil job
Apple to unveil new iPads, operating system on Oct 21: report
Japanese shares jump after USD vaults to six-year peak vs yen
China launches gold market to bolster fortunes of FTZ
Bank Negara maintains OPR at 3.25%
Japan exports knocked by weak US shipments, hurt economic recovery
Argentina drafts energy bill to lure investors, including M'sians, to shale deposits
Apple tries to assuage privacy fears, puts focus on security
Khairul and co ready to rumble after Korean masterclass
Factbox - Key trade, business announcements during China Xi's India visit
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)