• Higher productivity and improved production cost efficiency drive strong profit growth
• Completes RM300 million investment, transforming Masteel into Malaysia’s first ultra-low GHG emissions direct billet charging and high-speed steel mill
Petaling Jaya, Malaysia, 28 November 2024 – Integrated steel manufacturer Malaysia Steel Works (KL) Bhd (Masteel, 马来西亚钢厂（吉隆坡）有限公司, Bloomberg: MSW MK) registered a 776.1% surge in net profit to RM16.2 million for the third quarter ended 30 September 2024 (3Q24) from RM1.8 million in the corresponding quarter last year, mainly driven by improved margins from higher production volume and enhanced efficiency.