Integrated steel manufacturer, Malaysia Steel Works (KL) Bhd (Masteel) has declared a single tier interim dividend of 1 sen per ordinary share in respect of its financial year ending December 31st 2012.

In a statement, Masteel said that the interim dividend will be paid to shareholders on December 10th 2012 based on its record of depositors as at November 16th 2012.

Mr Seri Tai Hean Leng MD & CEO of Masteel said that "The recommendation of an interim dividend indicates our optimistic outlook for the domestic construction sector, taking our cue from the government's fervent initiatives to boost infrastructure development and connectivity in the country."

He said that the company's strategic location within the Klang Valley and its future capacity expansion plans will provide it the opportunity to support the progressive development in Malaysia.

The group posted a revenue of MYR 344.1 million in the second quarter ended June 30th 2012 on the back of stronger demand for steel products coupled with improved efficiencies at its two plants in the Klang Valley.

Source - Bernama

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