The High Court here has granted both CSC Steel Holdings Bhd and Mycron Steel Bhd leave to commence judicial review against the government's decision in June this year to remove anti-dumping duties on cold-rolled coils of iron or non-alloy steel of more than 1,300mm from Korea and Vietnam.

In separate bourse filings, the two steel products makers said they had filed an application on July 25 to challenge the removal of the anti-dumping duties and for a stay of the government's decision, both of which had been granted by the High Court. The date of the court's decision was not mentioned.

They are seeking, via the judicial review, for an order to quash the government's decision and for a declaration that the decision was invalid, null and void and has no legal force and effect.

The two companies said they were "aggrieved" by the government's decision on the matter, and named the Ministry of International Trade and Industry, its minister, the finance minister and the government of Malaysia as respondents in the case.

The issue, according to them, started when Posco Vietnam Co Ltd on Dec 28, 2022 submitted a petition to the government to request for an administrative review of its anti-dumping duties on the basis that Posco's dumping margin had changed substantially.

On being notified of the administrative review, both Mycron and CSC Steel informed the respondents of their intention to participate in the administrative review investigation as interested parties, prior to the decision to remove the anti-dumping duties that was issued on June 26. It is not clear if either Mycron or CSC Steel managed to take part in the review investigation.

Shares in CSC Steel closed one sen or 0.81% to RM1.23, giving it a market capitalisation of RM467.40 million. Mycron, meanwhile, finished unchanged at 34 sen, valuing the company at RM111.22 million.

Source:The Edge Malaysia