SOCIAL
Corporate Social Responsibility
In FY2025, Masteel Berhad contributed RM120,000.00 to the Selangor Crown Prince Golf Charity Cup 2025, supporting the TEAM Programme Malaysia, delivered in collaboration with The King’s Trust International under the patronage of King Charles III. The TEAM programme aims to discover talents and equip about 180 young people with relevant skills, empower through various partnerships and platforms, and discover talents and equip young people with relevant skills. This programme focuses on empowering vulnerable youths, including young offenders, care leavers, NEET youths (not in education, employment or training), and individuals recovering from substance abuse, by equipping them with employability skills, confidence-building opportunities, and pathways toward social reintegration.
Through structured mentoring, life-skills training, and career readiness development, the programme helps participants rebuild independence and self-worth while reducing the risk of re-offending and long-term social exclusion. By supporting this initiative, Masteel contributes to breaking cycles of poverty and marginalisation, enabling disadvantaged individuals to transition into productive members of society. This contribution aligns with internationally recognised human rights principles, particularly the Universal Declaration of Human Rights (“UDHR”), which emphasise the rights to dignity, education, equal opportunity, and decent work.
The initiative also supports sustainable development goals by promoting inclusive socioeconomic participation and rehabilitation. By investing in youth empowerment and second-chance opportunities, Masteel reinforces our role as a responsible corporate citizen committed not only to economic growth, but also to social equity, human dignity, and long-term community resilience
In FY2025, Masteel further strengthened our commitment to climate policy advocacy by contributing an additional RM60,000 to the Institute for Democracy and Economic Affairs (“IDEAS”), building upon our support in the previous year. This contribution supported the development of policy research aimed at advancing decarbonisation pathways for the Malaysian steel sector. The collaboration culminated in the publication of “Carbon Pricing for the Malaysian Steel Industry: Incentivising Sustainable Growth, ” launched on 21 August 2025 and till now it has been downloaded by 2657 from public audiences.. The policy paper evaluates carbon pricing as a strategic mechanism to align the iron and steel sector with Malaysia’s national net-zero ambitions and identifies pricing thresholds that would make low-carbon steel production commercially viable. It also highlights the urgency of early action to manage rising emissions, maintain international competitiveness, and respond to evolving global trade measures related to carbon intensity. Through this partnership, Masteel demonstrates that sustainability leadership extends beyond operational improvements to active participation in national and regional policy discourse. By supporting evidence-based policymaking, Masteel contributes to shaping a regulatory environment that encourages responsible industrial transformation, promotes market readiness for carbon pricing implementation, and accelerates the transition toward a low-carbon economy. Masteel believes that meaningful climate action requires collaboration between industry, policymakers, and research institutions. Our support for climate-related policy development reflects our long-term commitment to sustainable growth, responsible manufacturing, and the advancement of environmental stewardship within the Malaysian and ASEAN steel ecosystem
Masteel’s commitment to sustainability, innovation, and Corporate Social Responsibility is reflected in the evolution of our Masteel Sustainability Grant programme from the 2023 Memorandum of Understanding (“MoU”) with Universiti Tunku Abdul Rahman (“UTAR”) into a Tripartite MoU signed on 6 May 2025 with UTAR and ACE Gases (a wholly owned subsidiary of Kelington Group Berhad) to undertake a Carbon Capture, Utilisation and Storage (“CCUS”) study at the Bukit Raja plant. Masteel has allocated RM5 million to this initiative and will provide plant infrastructure and operational data, while ACE Gases contributes technical expertise in CO₂ capture and storage and UTAR provides research and analytical capabilities on carbon utilisation. The project supports the development of practical decarbonisation solutions aligned with Malaysia’s pathway towards net-zero emissions by 2050. Beyond research, this grant serves as a platform for knowledge transfer and industryrelevant innovation by enabling academia and industry to jointly explore CCUS applications applicable to industrial operations, environmental management and policy development. The collaboration strengthens talent development by providing students and researchers hands-on exposure to industrial sustainability challenges, supporting Malaysia’s growing green economy workforce. Through this initiative, Masteel connects academia, industry and policymakers to accelerate low-carbon technology adoption. The programme supports national climate goals and global decarbonisation efforts while advancing Masteel’s ambition to achieve net-zero emissions ahead of 2050 and deliver long-term value to industry, government and society.
Masteel Sustainability Grants
As part of Masteel’s commitment to sustainability, innovation, and corporate social responsibility (“CSR”), we have initiated the Masteel Sustainability Grants, evolving from our Memorandum of Understanding (“MoU”) with Universiti Tunku Abdul Rahman (“UTAR”) in 2023. This initiative is designed to support university academicians in researching Carbon Capture, Utilisation, and Storage (“CCUS”) which is a critical technology in the global effort to reduce carbon emissions and transition to a low- carbon economy to achieve net-zero carbon by 2050.
The Masteel Sustainability Grants play a multifaceted role in driving knowledge transfer, talent development, and industry-relevant research, benefiting not only the steel manufacturing sector but also government bodies, the community, and global sustainability efforts. By fostering collaboration between academia and industry, the program provides financial and technical support to researchers, enabling them to explore innovative CCUS solutions that can be practically applied to industrial operations, policy frameworks, and environmental management strategies.
Additionally, this initiative contributes to talent development by nurturing the next generation of experts in decarbonisation technologies, equipping students and researchers with the skills to tackle real-world sustainability challenges. We ensures that young professionals gain hands-on experience in industrial sustainability practices, strengthening the pipeline of skilled talent for Malaysia’s green economy through internships, research collaborations, and industry engagements.
As part of our broader CSR commitment, Masteel sees this grant as an opportunity to bridge the gap between academia, industry, and policy-making, ensuring that scientific advancements in CCUS are effectively translated into industry practices and regulatory frameworks. This initiative aligns with national and international climate goals, reinforcing Malaysia’s position as a leader in sustainable industrial transformation while contributing to global decarbonization efforts. We remain dedicated to driving impactful research, fostering industry-academia partnerships, and empowering future talent, ensuring that our knowledge-sharing initiatives create long-term value for industry, government, and society as a whole through the Masteel Sustainability Grants.
Masteel Green Initiatives
In 2025, Masteel continued to reaffirm our commitment to sustainability by advancing a series of impactful green initiatives focused on reducing environmental impact and supporting a healthier, more sustainable future.
SOLAR PANEL
In 2025, Masteel has initiated the installation of solar photovoltaic panels at our Petaling Jaya plant as part of our ongoing energy transition efforts. The project aims to supplement grid electricity with renewable energy, thereby reducing operational energy consumption and associated greenhouse gas emissions. This initiative supports Masteel’s broader decarbonisation strategy and contributes to its longterm ambition of achieving net-zero carbon emissions ahead of 2050.
CONTINUOUS CASTING MACHINE
Masteel’s Bukit Raja Rolling Mill enhanced operational efficiency by removing the electric induction heater for billet reheating and adopting direct charging of billets from the Continuous Casting Machine (“CCM”) using residual heat. This optimisation improves energy efficiency, lowers operating costs, and strengthens Masteel’s commitment to sustainable manufacturing practices.
CSI PLATFORM
Masteel is honoured to be among the first 100 adopters of Bursa Malaysia’s Centralised Sustainability Intelligence (“CSI”) platform. Through this initiative, we are able to systematically assess and manage greenhouse gas emissions across our operations and value chain, enabling closer engagement with suppliers and contractors to support data-driven emission reduction and decarbonisation efforts.
MASTEEL SUSTAINABILITY GRANTS
Building on the MoU with UTAR signed in 2023, Masteel introduced the Masteel Sustainability Grants to support research and talent development in Carbon Capture, Utilisation, and Storage (“CCUS”), and further strengthened this collaboration through a Tripartite MoU on 6 May 2025 with UTAR and ACE Gases (a wholly owned subsidiary of Kelington Group Berhad) to conduct a CCUS study at the Bukit Raja plant, supported by an allocation of RM5 million. This initiative demonstrates Masteel’s commitment to industry–academia collaboration, accelerating practical decarbonisation solutions while fostering knowledge transfer and developing skilled talent to support the transition towards a low-carbon future.
BUILT A 1-TONNE CO2 CUBE AT MGTC
Masteel constructed a 1-tonne CO₂ Cube at the MGTC compound to visualise the real-world impact of one metric tonne of carbon dioxide emissions and enhance public awareness of climate change. Officially launched by MGTC on 22 February 2024, the installation highlights the importance of both individual and collective actions in reducing emissions. The Carbon Cube serves as a tangible reminder of the urgency of decarbonisation and the shared responsibility to protect the environment.
SPONSORSHIP OF IDEAS RESEARCH PAPER ON CARBON PRICING IN MALAYSIA
Masteel supported the Institute for Democracy and Economic Affairs (“IDEAS”) in publishing the research paper “Asserting Climate Change Leadership in ASEAN: Carbon Pricing for the Malaysian Steel Industry, ” which was unveiled on 30 April 2024 at Park Royal Collection Kuala Lumpur. The study highlights the importance of addressing greenhouse gas emissions in the steel sector and identifies carbon pricing as a key mechanism to drive emission reductions and industry transformation. Through this sponsorship, Masteel seeks to raise awareness among policymakers and industry stakeholders on the sector’s decarbonisation challenges and to encourage practical policy solutions that support Malaysia’s climate commitments and transition towards a low-carbon economy.
VOLUNTARY CARBON MARKET
Masteel actively participated in the Voluntary Carbon Market (“VCM”) trading platform under the Bursa Carbon Exchange, achieving a successful auction outcome. This participation supports environmental sustainability by facilitating the offset of emissions and demonstrates our commitment to carbon reduction initiatives. It further reinforces Masteel’s responsible business practices and alignment with broader climate change mitigation efforts.
MEMORANDUM OF COLLABORATION (“MOC”)
Masteel has signed a Memorandum of Collaboration (“MoC”) with Bursa Malaysia Information Sdn Bhd to establish a strategic partnership and undertake a Proof of Concept (“POC”) for both the Sustainability Reporting Platform and the Sustainability Financing Platform. This initiative represents a key step in strengthening our sustainability management capabilities, supporting more structured disclosures and access to sustainable financing mechanisms, while reinforcing Masteel’s commitment to responsible and forward-looking business practices.
RAINWATER HARVESTING PROJECT
Masteel has implemented rainwater harvesting systems at both the Bukit Raja and Petaling Jaya plants to reduce freshwater withdrawal and improve water efficiency. This initiative supports responsible resource management by supplementing operational water use with alternative sources, thereby lowering dependence on municipal supply and reducing environmental impact. The investment reflects Masteel’s ongoing commitment to environmental stewardship and sustainable operations.
HYDROPONIC VERTICAL FARMING
Since 2022, Masteel has introduced hydroponic vertical farming at the Bukit Raja plant as part of our environmental and community well-being initiatives. This soil-free cultivation method supports sustainable food production by minimising land disturbance, reducing resource consumption and associated emissions, and enhancing site biodiversity. The programme also promotes healthier lifestyles among employees, with harvested vegetables distributed free of charge as part of Masteel’s corporate social responsibility efforts, reflecting the Company’s broader ESG commitment.