Southern Steel sees better 2003 results

Southern Steel Bhd sees a 10% improvement in performance this year with the construction industry expected to make a rebound after the Chinese New Year, according to chairman Datuk Abdullah Mohd Yusof.  

”Our business experienced a drop in demand from the local construction industry towards the end of last year following the government’s decision to send home all illegal foreign workers in August. We had earlier projected growth for the year 2002 after a not so impressive performance during the economic slowdown. Business was picking up during the 2nd quarter of 2002 but slowed down after the government directive. We will catch up whatever we have lost and we have projected that demand would be robust in 2003,” he said.