24
Aug
11:12
Perwaja stake sinks Kinsteel
Malaysia’s Kinsteel has booked a record net loss in the financial year ending June 2017, it said in a filing to Bursa Malaysia. The loss was compounded by the write-down of its stake in Perwaja Holdings, which saw its plan to restructure fall apart over the last year, Kallanish notes.
Kinsteel reported a net loss of MYR 335.72 million ($78.38m) over the financial year, down from a loss of MYR 88.54m the preceding year. Revenues meanwhile fell from MYR…
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Very good overview of the weekly steel market.
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