Managing director Datuk Toh Yew Peng says the iron and steel sector are still not in full operation due to lockdown measures imposed thus affecting the demand and supply of steel products.
KUALA LUMPUR: Steel pipe maker Prestar Resources Bhd
said strong demand, coupled with higher prices in April and May boosted its earnings in the second quarter, but growth was stunted by the lockdown in June.
The company reported a net profit of RM19.2mil in the three-month ended June 30 compared with a loss of RM2.9mil made a year ago.
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