Steel sector in tight MCO spot


PETALING JAYA: The RM45bil domestic steel sector has been severely impacted by the prolonged Covid-19 led lockdowns with many players unable to operate and fulfil their outstanding orders, despite the current robust export market.

According to Malaysia Steel Association (MSA) president Tan Sri William Cheng, most steel manufacturers are facing tremendous financial losses, especially those operating in Selangor and Kuala Lumpur, the powerhouses of industries and services that contribute over 40% of the country’s gross domestic product (GDP). “Any extension of the enhanced movement control order (EMCO) will have dire consequences on almost all the manufacturers and businesses, ” he said.

Get 30% off with our ads free Premium Plan

Monthly Plan


Annual Plan


Billed as RM103.60/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Malaysia steel , MCO , export market , William Cheng , MiSi ,


Next In Business News

Ge-Shen acquires 40% stake in EMS firm for RM48mil
Handal gets extension till Dec 2024 to hold AGM
HCK Capital buys land in Selangor for RM34mil
Gamuda Cove secures new tenants, partners
KJ, Shahril Ridza now director at CGS International Securities
KLCI ends higher; ringgit strengthens to 1-month high
Govt to prioritise improving current tax system - Amir Hamzah
Oil edges up after OPEC+ extends output cuts through second quarter
Asian stocks, forex kick off event-packed week on positive note
Thai economy in critical situation, PM's aide says

Others Also Read