PETALING JAYA: Malaysia Steel Works (KL) Bhd
(Masteel), which reported a net loss for its first quarter ended March 31, 2015, is expecting lower steel bar supply from China due to tighter government controls on imports.
The company told Bursa Malaysia yesterday that the Government had levied a 5% import duty on all carbon steel bars and wire rods effective June 11 and there would be RM50,000 fines for any usage of construction material not certified in accordance to the Construction Industry Development Board (CIBD) Act starting from June 1.
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