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.
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