Which company you will choose:
Good earnings
Among the more prominent flat steel companies is CSC, which is 46% controlled by China Steel Asia Pacific Holdings Pte Ltd. For its fourth quarter of FY2020 ended December, CSC chalked up a net profit of RM21.43 million on the back of RM367.53 million in revenue. For the corresponding period in 2019, it recorded a net profit of RM7.06 million from RM334.39 million in turnover.
For its full year ended December 2020, the company registered a net profit of RM37 million from RM1.08 billion in revenue, in contrast to a net profit of RM34.8 million from RM1.36 billion in revenue in FY2019.
Mycron, which is 74.15% controlled by businessman Tunku Datuk Yaacob Khyra, also performed well. For its second quarter of FY2021 ended December, it posted a net profit of RM14.92 million from RM195.83 million in revenue. For the corresponding period a year earlier, Mycron suffered a net loss of RM3.11 million from RM173.98 million in turnover.
For the six months ended December 2020, the company registered a net profit of RM18.8 million from RM351.83 million in sales. For the first six months of FY2020, it suffered a net loss of RM2.68 million from RM357.94 million in turnover.
Prestar registered a net profit of RM15.76 million from RM137.05 million in revenue for its fourth quarter ended December 2020, in contrast to a net profit of RM3.12 million from RM111.77 million in revenue for the corresponding quarter a year earlier. For the full year ended December 2020, Prestar recorded a net profit of RM22.16 million — a little more than four times the net profit it chalked up in FY2019.
Brothers Datuk Toh Yew Peng, who is the managing director, and Toh Yew Keat (executive chairman) have almost 38% equity interest in the company.
Leon Fuat, meanwhile, posted a net profit of RM18.09 million on the back of RM198.96 million in revenue for its fourth quarter of FY2020 ended December. This compares with a loss of RM4.18 million from RM149.58 million in sales a year ago.
For FY2020, Leon Fuat registered a net profit and revenue of RM28.56 million and RM589.58 million respectively compared with a net profit and revenue of RM5.6 million and RM607.12 million respectively in FY2019.
Leon Fuat is almost 71% controlled by the Ooi and Ng families, who founded the company.
Source: Flat steel companies in the spotlight | The Edge Markets