KUALA LUMPUR: Innoprise Plantations Bhd has demanded payment of RM11.62mil from Asiatic Lumber Industries Sdn Bhd after the latter failed to produce the minimum quantity of commercial lumber.
Innoprise's unit Serijaya Industri Sdn Bhd had on Friday issued a demand for the amount, after deducting the bank guarantee of RM500,000 under the log extraction sub-contract which it had called in on Dec 20, 2012.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!