ePaperEventsR.AGEmStarMajoritiStarPropertyStarCherishStarCarsifuStarSearchmyStarjobKualiKuntumSuriaFM988FM
Shares of Indian steel companies have risen after a government body recommended a temporary tax on some steel products in a bid to curb cheap imports, raising hopes their earnings might get a boost.
KUALA LUMPUR: Malaysia has initiated an anti-dumping probe on galvanised steel coils/sheets exported from China, South Korea and Vietnam, according to the Ministry of Investment, Trade and Industry (MITI).
HANOI: Vietnam will impose anti-dumping tariffs on steel from China, following South Korea and other nations in fighting back against surging supplies from the world's biggest producer.
Vietnam will impose a temporary anti-dumping levy of up to 27.83% on some hot-rolled coil steel products originating from China, the trade ministry said on Friday.
PETALING JAYA: Steel manufacturer Hiap Teck Venture Bhd is expected to weather near-term challenges and have an improved business outlook over the longer-term.
PETALING JAYA: Weak steel prices, albeit starting to show signs of recovery, will continue to pose a challenge to Hiap Teck Venture Bhd’s near-term profitability, says Hong Leong Investment Bank (HLIB) Research.
HANOI: Appropriate and timely trade measures, following Vietnamese and World Trade Organisation (WTO) regulations, will help the domestic steel industry minimise damage caused by unfair competition practices and protect local production, say industry leaders and experts.
Things are looking good for steel company Hiap Teck Venture Bhd (HTVB) as various factors are in play to boost its earnings ahead.
The strength in China’s iron ore imports this year stands in stark contrast to the weakness in steel production and demand, setting up a dilemma as to how the contradiction will be resolved.
KUALA LUMPUR: Hiap Teck Venture Bhd (HTVB) has agreed to subscribe for 54.6 million new shares worth RM53.24 million in 27.3 per cent-owned joint venture Eastern Steel Sdn Bhd (ESSB) which is seeking to raise RM195 million via a proposed rights issue.
Hiap Teck Venture Bhd (HTVB) has agreed to subscribe for 54.6 million new shares worth RM53.24mil in 27.3%-owned joint venture Eastern Steel Sdn Bhd (ESSB) which is seeking to raise RM195mil via a proposed rights issue.
Engtex Group Bhd is likely to receive more water pipe orders following the recent annoucement of water tariff hike, according to Kenanga Research.
HANOI: The high prices of raw materials is causing domestic steel companies to increase selling prices many times to compensate for production costs and reduce losses.
KUALA LUMPUR: Stocks to watch on Thursday include Swift Haulage Bhd, Hup Seng Industries Bhd, AME Real Estate Investment Trust (AME REIT), Duopharma Biotech Bhd, OCK Group Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) and Hiap Teck Venture Bhd.
BEIJING: Adding more strain to global steel supplies and price inflation of raw materials, the Russia-Ukraine conflict has increased China’s steel production costs.
BEIJING: Chinese iron ore futures rose for the fourth straight session yesterday and jumped more than 4%, fuelled by demand hopes as Beijing pledged to step up policy support to stabilise the economy.
BEIJING: Surging prices of alloys, nonferrous metals and energy have “significantly” dented the profitability for Baoshan Iron & Steel Co Ltd, the top Chinese steelmaker said, without providing further details of the impact.
Hiap Teck Ventures Bhd is on track to post improved financial results in its third quarter ending April 2023 (3Q23), backed by higher steel prices and demand and contribution from associate company, Eastern Steel Sdn Bhd (ESSB).
HONG KONG: The European Union on Sunday (Jan 26) ordered its customs officials to register flat-rolled stainless steel imports from China, Taiwan and Indonesia, widening the threat of tariffs on the shipments.
KUALA LUMPUR: Hong Leong Investment Bank (HLIB) expects Hiap Teck Venture Bhd to be due for a re-rating on the back of improving sector earnings prospects.
