More Good News on Steel Industry

1. Data centre boom, chip industry expansion expected to boost local steel demand
- Steel consumption is expected to see positive growth this year, reaching 8.3 million tonnes, primarily driven by the construction of data centres. If infrastructure projects like the Penang light rail transit commence, steel demand could approach nine million tonnes.

2. Miti working with construction industry, Works Ministry to ensure more local steel used in govt projects 
- The government is exploring ways to enforce greater use of local steel products in government projects. Additionally, a two-year moratorium on approvals for expansion and diversification in the iron and steel industry was implemented in August 2023. This moratorium applies to all inquiries, assessments of current applications, new applications, licence transfers, expansions, regularisations, and diversifications for manufacturing licences in the iron and steel industry.

Companies poised to be benefited: [%Loho%], [%piwg%], [%OlAD%], [%ouex%], [%KnBA%], CHINWEL, TONGHER, SSTEEL, ASTINO, MASTEEL, TSA, LEFORM, LIONIND, BWYS, LEONFB, TASHIN, YLI, etc.

More Good News on Steel Industry

1. Data centre boom, chip industry expansion expected to boost local steel demand
- Steel consumption is expected to see positive growth this year, reaching 8.3 million tonnes, primarily driven by the construction of data centres. If infrastructure projects like the Penang light rail transit commence, steel demand could approach nine million tonnes.

2. Miti working with construction industry, Works Ministry to ensure more local steel used in govt projects 
- The government is exploring ways to enforce greater use of local steel products in government projects. Additionally, a two-year moratorium on approvals for expansion and diversification in the iron and steel industry was implemented in August 2023. This moratorium applies to all inquiries, assessments of current applications, new applications, licence transfers, expansions, regularisations, and diversifications for manufacturing licences in the iron and steel industry.

Companies poised to be benefited: $KLSE-HIAPTEK, $KLSE-ANNJOO, $KLSE-KKB, $KLSE-CSCSTEL, $KLSE-SENDAI, CHINWEL, TONGHER, SSTEEL, ASTINO, MASTEEL, TSA, LEFORM, LIONIND, BWYS, LEONFB, TASHIN, YLI, etc.

$CSCSTEL / 5094 (CSC STEEL HOLDINGS BERHAD)

$ANNJOO / 6556 (ANN JOO RESOURCES BERHAD)

$SENDAI / 5205 (EVERSENDAI CORPORATION BERHAD)

$HIAPTEK / 5072 (HIAP TECK VENTURE BERHAD)