Masteel

ProspectsThe Construction Index of Bursa Malaysia had rallied by over 11% since the start of 2023,resulting it as one of the best performers in this year. Stocks of major builders such as WCTHoldings Berhad, Gamuda Berhad and Sunway Construction Group Berhad had also rallied by132%, 16.4% and 11.3% respectively.In last month alone, the index had risen by over 3%. This underscores the Company’s expectationof a faster pace in the roll out of many major infrastructure projects such as the RM45 billionMRT 3, RM32 billion Penang Transport Master Plan and the disbursement of the RM97 billiongross development expenditure budgeted under Budget 2023 in the coming few quarters.The current environment of low margin on the sales of steel bars is not expected to persist for toolong.5Meanwhile, the Company is making a major investment to improve its competitiveness whilstcontinuing its mission to decarbonize and maintain its lead as the lowest emitter of Green HouseGases for Scope 1 amongst all steel mills in Malaysia.The Company expects improvement of its earnings in the quarters ahead.