Financial support to Malaysian Masteel towards sustainability

Masteel, a publicly listed company founded in 1971, is the first ultra-low emission steel producer in the country to be listed on the FTSE4Good Bursa Malaysia Index with four out of four stars for 2023.

“We appreciate Masteel's accomplishments and are eager to contribute to the company's continued success in its environmental, social and governance (ESG) efforts,” said AmBank CEO Jamie Ling. “As we continue to navigate a rapidly evolving economic environment, a partnership like this underscores the importance of integrating sustainability into business strategies while expressing our shared commitment to ESG principles that include sustainable development.” Said.

“Through the strong partnership with AmBank, we will further strengthen our leading position in sustainable management and production in the Malaysian steel industry and advance the agenda of decarbonising the dynamic construction sector,” said Masteel CEO Datuk Sri Tai Hean Leng.

This financing will help Masteel purchase new equipment and technologies required for ultra-low emission steel production. This will significantly reduce the company's greenhouse gas emissions and shrink its carbon footprint.