Hibiscus unit files writ of summons against Lime Petroleum
KUALA LUMPUR (Oct 12): Hibiscus Petroleum Bhd's wholly-owned subsidiary Gulf Hibiscus Ltd (GHL) has filed a writ of summons against Lime Petroleum Norway AS, which it said has caused the unit financial losses.
The legal action follows GHL's filing of the complaint at the Oslo Conciliation Board, which is the municipal's lowest level of the legal system for civil cases, back in April 2016.
The claim was for an estimated value of US$35 million (RM136 million) and above.
Not many businesses would impose a price hike of 10 percent on their best-known product while cutting prices 29 percent on a similar but less-popular product. But the U.S. Postal Service is doing just that.