Malaysia Steel Works (KL) Southern Steel Group

Principal Activities: Manufacturing and marketing of high tensile
steel bars, mild steel bars and prime steel billets. The 100%-owned
subsidiaries: MS Express Sdn Bhd is involved in the transportation
and logistics of steel bar and billets between Masteel’s Bukit Raja
and Petaling Jaya facilities and transportation/delivery of Masteel’s
products to its customers. Masteel has a 48.25% owned associate
company, Bio Molecular Industries Sdn Bhd, a strategic partnership
between Masteel and Curium International S.A., which is a
worldwide leader in radiopharmaceuticals.
Principal Activities: SSB is principally an investment holding
company and involved in the manufacturing, sale and trading in
steel bars and related products whilst the principal activities
engaged by its subsidiaries are that of manufacturing, sale and
trading in billets, steel bars, wire rods, wire mesh, pre-stressed
concrete strands, bars and wires, steel pipes, steel wires and other
related products, and investment holding. SSB also has an
associated company which is involved in the manufacturing and
trading of steel bars.

Income Statement 2022 Income Statement 2022

RM'000 RM'000
Revenue 1,778,289 Revenue 2,308,915
Cost of Sales (1,662,574) Cost of Sales (2,107,119)
Gross profit 115,715 Gross profit 201,796
Other operating income 5,363 Distribution expenses (62,111)
Distribution costs (24,624) Administrative expenses (48,206)
Administrative expenses (50,838) Other operating expenses (13,696)
Profit from operatios 45,616 Other operating income 44,642
Finance costs (20,624) Results from operations 122,425
Share of results of associate 929 Interest income 798
Profit before tax 25,921 Finance costs (29,952)
Taxation (6,850) Share of profit in an associated company,
1,994
Profit net of tax 19,071 net of tax
Profit before tax 95,265
Taxation (2,126)
Profit net of tax 93,139
Master Steel Sub Business
• The Company has two (2) 100%-owned subsidiaries i.e., MS Express Sdn Bhd (“MSX”) and MS Fabricon Sdn Bhd
(“MSF”). MSF’s primary activities are to operate a “Cut and Bend” facility for the steel products of Masteel. During
the year under review, MSF has remained dormant. However, its loss before tax had reduced from RM0.56 million
in FYE2021 to RM0.11 million in FYE2022.

MSX is involved in the transportation and
logistics of steel bar and billets between
Masteel’s Bukit Raja and Petaling Jaya facilities
and transportation and delivery of Masteel’s
products to its customers
Bio-M, the associate company which the
leading manufacture in Malaysia of
radioisotopes for PET-CT imaging of
cancer.

Based on the annual report, the sub-business contribute not more than 10% of the total revenue