Malayawata expands exports to become a worldwide market player

Malayawata expands exports to become a worldwide market player

According to market reports Malayawata Steel Berhad which is a pioneer producer in the Malaysian steel industry, started to export 10-15% of its total monthly production into countries like Singapore, Australia, New Zealand, Brunei and South Pacific Islands. In the first quarter of this year Malayawata Steel Bhd exported products covering steel billets, wire rods and bars used mainly in the construction industry. It is stated that these exports will help the group to be less effected by the fluctuations seen in the domestic demand for steel products and also to achieve its goal to strengthen both in the ASEAN (Association of South East Asian Nations) region and international market by 2004, which is because they have shorter lead times as they are in ASEAN and favorable delivery prices due to short distance. A company official expressed that in compliance with their 10 year plan, Malayawata Steel intends to form strategic alliances with downstream value added industries and to join the World Trade Organization between 2005-2008 period, aiming to become a worldwide market player in steel manufacturing industry by 2010.