Hiap Teck’s margin hit by cheaper steel

The company said the recent stabilisation of prices, driven by China’s stimulus measures, brings a cautiously optimistic outlook for the near future.

PETALING JAYA: Despite recording an operational loss as cheaper steel compressed its margins, steel manufacturer Hiap Teck Venture Bhd reported a net profit of RM34.7mil in the first quarter of financial year 2025 (1Q25), driven by contribution from its joint venture.

In the previous corresponding quarter, Hiap Teck posted a net loss of RM9.43mil.