Malaysian Asteel’s net loss increases in 2023 y-o-y
Time:Thu, 07 Mar 2024 09:32:12 +0800
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Asteel, one of the biggest integrated steel mills in Malaysia, said that in the fourth quarter of 2023, its net loss reached MYR 3.37 million. The income decreased by 7.08% year on year to MYR 69.03 million.
In the whole year of 2023, the company’s net loss increased from MYR 5.91 million to MYR 6.8 million. Meanwhile, the revenue also went down by 8.45% year on year to about MYR 253 million.
The company forecasted that Malaysia’s economy was expected to resume in 2024, which was a good message for the real estate industry.
