the group said the recovery of steel demand will be more visible in the second half of 2020, supported by stimulus measures, policy rate cuts and continued progress in public projects.
The revival of the construction activities, especially infrastructure investment, as the government has put forward several new infrastructure initiatives and the continuation of large-scale infrastructure projects such as East Coast Rail Link and Bandar Malaysia projects by the government will provide lift to growth for the steel industry moving forward, it added.
It said the group's strategy is to remain focused and contain costs to ensure sustainable profit and growth while observing the stringent Covid-19 SOPs imposed by the Ministry of Health.
"We are confident that our strong balance sheet and cash flow position will weather us through these difficult conditions, and to be able to take advantage of any opportunities that may arise when the economy recovers," it added.
Revenue: RM210,215,000 Profit/(loss) before tax: RM 12,312,000 Profit/(loss) for the period: RM10,364,000 Proposed/Declared dividend : 0.30 per share (Subunit) Net assets per share attributable : 0.64 to ordinary equity holders of the parent ($$)
PETALING JAYA: Budget 2021, which will be tabled in November, will be expansionary though narrower than Budget 2020, with economists projecting a budget deficit of 4% to 6% next year.
The government, they said, would need to revitalise the economy with appropriate measures due to the uncertainties arising from the Covid-19 and the weak global economy, which has caused many nations to fall into recession.
The World Bank expects Malaysia’s fiscal deficit to gross domestic product (GDP) to widen to 7% this year, underpinned by increased expenditure and downward pressure on revenue. The government, however, expects the fiscal deficit to be at 5.8% to 6% this year.
Economists expect the government to look into some core areas to ensure Malaysia is on the right track to achieve economic sustainability post-pandemic.
Socio-Economic Research Centre executive director Lee Heng Guie told StarBiz that the federal government is torn between managing a tight fiscal space and keeping the country’s sovereign rating intact.
"In our view, the government should go for another year of fiscal deficit targeted at public spending and programmes as well as the provision of tax incentives and allowances to boost private investment, creating jobs and income.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
DreamCustodian
1,170 posts
Posted by DreamCustodian > 2020-09-28 11:31 | Report Abuse
Boleh juga la