07
Dec
03:02
Choo Bee slips into red in third quarter
Malaysian steel products maker Choo Bee Metal Industries has slipped into the red, posting a net loss of MYR 13.56 million ($3.08m) in third quarter, from a net profit of MYR 29.97m a year ago, Kallanish notes.
The loss was primarily attributed to the write-down of inventories amounting to MYR 14.6m due to declining average selling prices, and higher inventory and input costs denting profitability.
The group’s revenue also slipped 6.55% to MYR 116.42m in th…
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Anonymous
Very good overview of the weekly steel market.
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