Southern Steel, Ann Joo cancel steel manufacturing JV

Southern Steel said the proposed JV had to be terminated due to the Covid-19 pandemic.

KUALA LUMPUR: Southern Steel Bhd and Ann Joo Resources Bhd have mutually terminated their proposed joint venture involving the long product steel manufacturing businesses.

Both companies had on Wednesday agreed to cancel the MoU with immediate effect due to uncertain market conditions caused by the Covid-19 pandemic.