KUALA LUMPUR: Ambank Group announced the granting of a RM84 million financing facility to Malaysia Steel Works (KL) Bhd (Masteel) to facilitate its technological transformation into being the most sustainable ultra-low greenhouse gases (GHG) emission steel producer of steel bars and billets.
KUALA LUMPUR: Malaysia Steel Works (KL) Bhd (Masteel) has become the first ‘ultra-low carbon emission’ integrated steel mill listed on the FTSE4GOOD Bursa Malaysia Index, having invested over RM60 million in various carbon dioxide (CO2) emission reduction initiatives in its operations.
KUALA LUMPUR: Malaysia Steel Works (KL) Bhd’s (Masteel) net profit jumped 57.4% to RM13.2mil in the first quarter ended March 31, against RM8.39mil a year prior, buoyed by higher selling prices of its steel products.
AFTER a strong 2021, thanks to higher selling prices, many steel producers could be looking at compressed margins and a normalisation in selling prices this year.