PETALING JAYA: Hiap Teck Ventures Bhd is on track to post improved financial results in its third quarter ending April 2023 (3Q23), backed by higher steel prices and demand and contribution from associate company, Eastern Steel Sdn Bhd (ESSB).
Hong Leong Investment Bank (HLIB) Research said the steel maker’s management has guided for sequential earnings recovery, supported by continued increase in steel prices (amid optimism on China’s economic reopening) and seasonal recovery in domestic steel demand.
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