MSA raps industry-wide raids on steel importers

Government investigators and independent auditors are trying to get to grips with yet another wealth management product (WMP) gone awry in China, one that the government itself had promoted.. (A Reuters file picture shows workers direct a crane lifting newly-made steel bars at a factory of Dongbei Special Steel Group Co., Ltd., in Dalian, Liaoning province, China.)

KUALA LUMPUR: Malaysia Steel Association (MSA) has criticised the way the authorities had carried out the recent industry-wide raid on steel product importers.

The association said in a statement that the authorities, checking on import irregularity, employed “heavy-handed tactic which have received wide national press coverage” that would tarnish the reputation of the raided companies before the due process of the law could be accorded to them.