It is envisaged that the iron and steel industry could suffer an estimated loss of RM3.2bil in revenue throughout the 28 days of MCO and first extension, excluding substantial losses in fixed costs and other losses of business opportunities.
PETALING JAYA: The local iron and steel industry has called on the Ministry of International Trade and Industry (Miti) to expedite the approval process to restart iron and steel manufacturing operations.
According to the Malaysian Iron and Steel Industry Federation (Misif), its members are ready to resume operations gradually to supply materials and components to the essential industries during the movement control order (MCO).
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