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Southern Steel, Ann Joo terminate alliance

27 May 2020 / 20:45 H.

PETALING JAYA: Southern Steel Bhd and Ann Joo Resources Bhd have mutually terminated their partnership after eight months due to uncertain market conditions caused by the Covid-19 pandemic.\

In a Bursa filing, the group said the termination is not expected to have any material effect on the consolidated earnings and net assets per share of the company for the financial year ending June 30.

Both parties had inked an agreement in October last year to form a joint venture company to venture into the long steel product business.

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