LION Industries Corp Bhd, controlled by tycoon Tan Sri William Cheng Heng Jem, is banking on a return to hot rolled coil (HRC) manufacturing to turn its fortunes around. The group, one of the country’s oldest steel makers, has been loss-making for the past two financial years amid intense competition and slowing market growth.
Last December, the group announced plans to restart production of HRC in the second quarter of 2021 with a production capacity of 2.5 million to 3 million tonnes a year.
“Our plans to restart the HRC plant is part of the group’s turnaround plans, which we expect to contribute positively to the results,” says a Lion Industries spokesman in an email response to The Edge.
KUALA LUMPUR (Feb 17): The main index of Bursa Malaysia pared some of its loss before the midday break today, but remained below the 1,600-point level in line with cautious regional markets.
At 12.30pm, the FBM KLCI was down 8.10 points at 1,598.04. The index earlier dropped to a low of 1,596.45.
Broader market sentiment remained cautious with 416 losers and 367 gainers, while 712 counters traded unchanged. Trading volume was 5.99 billion shares valued at RM2.79 billion.
The top losers included Malaysian Pacific Industries Bhd, Pentamaster Corp Bhd, AEON Credit Service (M) Bhd, Kuala Lumpur Kepong Bhd (KLK), Mega First Corp Bhd, Telekom Malaysia Bhd (TM), Inari Amertron Bhd, Unisem (M) Bhd and Axiata Group Bhd.
KUALA LUMPUR (Feb 10): The main index at Bursa Malaysia eked out limited gains at the midday break today as investor sentiment turned tepid.
At 12.30pm, the FBM KLCI was up 1.05 points at 1,587.18. The index had earlier risen to a high of 1,592.27.
Losers led gainers by 443 to 274, while 731 counters traded unchanged. Trading volume was 2.97 billion shares valued at RM1.83 billion.
The gainers included Ann Joo Resources Bhd, Hartalega Holdings Bhd, Cymao Holdings Bhd, Euro Holdings Bhd, Widetech (M) Bhd, Aeon Credit Service (M) Bhd and Paragon Union Bhd.
The actively traded stocks included Dagang NeXchange Bhd, AirAsia X Bhd, EA Holdings Bhd, Velesto Energy Bhd, Iris Corp Bhd, Lion Industries Bhd, Opcom Holdings Bhd, AirAsia Group Bhd, Yong Tai Bhd and Foundpac Group Bhd.