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Steel sector PETALING JAYA: The RM45bil domestic steel sector has been severely impacted by the prolonged Covid-19 led lockdowns with many players unable to operate and fulfil their outstanding orders, despite the current robust export market. According to Malaysia Steel Association (MSA) president Tan Sri William Cheng, most steel manufacturers are facing tremendous financial losses, especially those operating in Selangor and Kuala Lumpur, the powerhouses of industries and services that contribute over 40% of the country’s gross domestic product (GDP). “Any extension of the enhanced movement control order (EMCO) will have dire consequences on almost all the manufacturers and businesses, ” he said. ....
File pic: People waiting to receive the AstraZeneca Covid-19 vaccine at the Putra World Trade Centre in Kuala Lumpur. The government announced one million more doses will be opened for opt-in registration. GLENN GUAN/The Star KUALA LUMPUR: The Malaysian Iron & Steel Industry Federation (MISIF) urges the government not to implement a full lockdown in the effort to fight the Covid-19 pandemic but instead impose stricter standard operating procedures (SOPs). In a statement on Wednesday, MISIF which represents the whole value chain of the iron and steel products manufacturers – worried a full lockdown will severely impair the economic sectors. ....
No full MCO please, say industries and trade groups 20 May 2021 / 23:51 H. All quiet at the integrated transport hub in Bandar Tasik Selatan, Kuala Lumpur, amid Movement Control Order 3.0.New Covid-19 cases continue to rise rapidly in spite of tighter movement restrictions. – BERNAMAPIX PETALING JAYA: Various industries and trade associations have pleaded with the government not to resort to a full movement control order (MCO) as it will hurt the economy and affect people’s livelihoods, even as the number of new Covid-19 infections hit a record high for the second consecutive day, with 6,806 cases today. The new wave of infections breached the threshold of 3,000 new cases daily in May and have continued to rise rapidly in spite of tighter movement restrictions. This has sparked fears of a return to the first MCO that limited economic activities to essential businesses, especially for Selangor, which has the highest number of cases in the country. ....
THE steel industry has reason to cheer this year as the government is making revisions to the iron and steel policy that are expected to benefit local players across the value chain in the long run. The revisions come after a long wait by industry players who had submitted a White Paper in April 2019 at the request of the Ministry of International Trade and Industry (MITI) in 2018. The White Paper was intended to form the basis for a holistic iron and steel policy for developing a more resilient, competitive and sustainable industry. In a letter sighted by The Edge that was issued by MITI to the industry in December, the ministry outlined six revisions to the current policy: ....