PETALING JAYA: Colform Group Bhd expects the construction, infrastructure and property development industry in Malaysia to stabilise and grow, moving forward.
In a filing with Bursa Malaysia, the company said this will be driven by infrastructure development, economic growth and continuous government initiatives.
“Therefore, the outlook of the downstream steel industry remains favourable in the medium to long term,” it said.
Colform will be listed on the ACE Market on Feb 10, 2025. The company is principally involved in the manufacturing, processing and trading of steel products, as well as trading of building materials.
For its third quarter ended Sept 30, 2024 (3Q24), Colform reported a net profit of RM4.3mil on revenue of RM30.49mil.
There are no comparative figures for the preceding corresponding quarter as no interim financial report was prepared for the comparative period.
Colform said its 3Q24 revenue was mainly derived from the manufacturing of downstream steel products and processing of steel coils segments, which contributed to RM15.30mil, representing 50.18% of the group’s total revenue.
