Synopsis:Amidst Malaysia's steel transformation, AmBank Group extends a RM84 million financing facility to Malaysia Steel Works (Masteel) for its eco-friendly e
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.
STEEL bar manufacturer Malaysia Steel Works (KL) Bhd (Masteel), whose stock price has jumped 60% over the past month, is said to be a takeover target of a Bursa Malaysia-listed integrated builder conglomerate, according to market sources. “A locally listed building materials distributor, which has been actively acquiring companies and businesses in recent years, is now eyeing Masteel as its next target,” a source tells The Edge.
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.