Malaysia's defense ministry is evaluating a procurement exceeding 1 billion ringgit ($245 million) for a new naval strike missile system. The initiative follows the collapse of a $2.8 billion deal with Norway earlier this year, blocked by Oslo due to updated export control regulations. Malaysian Prime Minister Anwar Ibrahim criticized the decision, stating it could damage confidence in European defense suppliers.
The government has issued a notice of demand for over 1 billion ringgit in losses. Defence Minister Mohamed Khaled Nordin stated Malaysia cannot wait for compensation and is considering new budget allocations. The minister indicated US officials offered a replacement system for Malaysia's littoral combat ship program in May.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing