Perwaja Holdings Bhd has been ordered by Petroliam Nasional Bhd to pay RM85.79 million over the supply of natural gas.
Perwaja said on May 13 there had been negotiations with the government over the revision of natural gas price for the supply of gas by Petronas to the company in line with the prevailing international price with the applicable discount.
It added that in the interim, Perwaja had made full payment to Petronas based on international market natural gas price less discount accorded by the government.
Perwaja said it would defend the suit. It had also, despite the ongoing discussion with the government, had made full provision for the difference between Perwaja’s price and Petronas’ price for the audited financial statements for FY ended Dec 31, 2008.
Perwaja said it did not expect financial or operational impact on the company and the group.
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