Date Published : 2023-12-04
| Type | Announcement |
| Subject | MATERIAL LITIGATION |
| Description | Judicial Review Applications Against the Decision Made by the Respondents (The Minister of MITI, Ministry of Investment, Trade and Industry (MITI), The Finance Minister & the Government of Malaysia) |
Pursuant to Paragraphs 9.03 and 9.04(f) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MYCRON STEEL BERHAD wishes to inform that its wholly-owned subsidiary Mycron Steel CRC Sdn Bhd (“Applicant”) had on 25 July 2023 filed an application for leave to institute a judicial review (“Application”) and a stay of proceedings against the Decision made by the Respondents (The Minister of MITI, MITI, The Finance Minister & the Government of Malaysia) pertaining to termination of anti-dumping duty on import of Cold Rolled Coil of iron and non-alloyed steel from specific exporters originating from South Korea and Vietnam. The Leave to commence judicial review and the Applicant’s stay application was granted by the Kuala Lumpur High Court on 29 November 2023. Please refer to the attachment for further details.
This litigation matter is not expected to have any immediate material financial or operational impact on the group.
Further development of the above matter will be disclosed accordingly.
This announcement is dated 4 December 2023.