Luncheon interview with Tan Sri William Cheng. SAMUEL ONG / THE STAR, 6TH MAY 2014.
KUALA LUMPUR: Loss-making Lion Corp Bhd’s main subsidiary, Megasteel Sdn Bhd, has petitioned the Government yet again for import duty protection, saying it may need to wind down operations if it doesn’t get it.
Having asked the Government for a 30% import duty protection recently, Lion Group executive chairman Tan Sri William Cheng (pic) said Megasteel had been loss-making for much of the past decade, as it was unable to compete with cheap imports flooding the market.
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