AmBank grants RM84mil financing to Masteel

From left: AmBank Group managing director of business banking Christopher Yap, AmBank Group head of commercial banking Patrick Chin, Masteel executive director Richard Ong and Malaysia Steel Works (KL) Bhd (Masteel) deputy chairman/managing director and chief executive officer Datuk Seri Tai Hean Leng.

KUALA LUMPUR: Ambank Group announced the granting of a RM84 million financing facility to Malaysia Steel Works (KL) Bhd (Masteel) to facilitate its technological transformation into being the most sustainable ultra-low greenhouse gases (GHG) emission steel producer of steel bars and billets.

Masteel, a publicly listed company established in 1971, is the first ultra-low emission steel manufacturer in the nation listed on the FTSE4Good Bursa Malaysia Index with a rating of four out of four stars for 2023.