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Malaysia Steel Works (KL) Bhd. disclosed Q4 and full year 2023 financials

Malaysia Steel Works (KL) Bhd. disclosed its financial performance for the fourth quarter and full year ending December 31, 2023.

Malaysia Steel Works (KL) Bhd. disclosed Q4 and full year 2023 financials

Malaysia Steel Works (KL) Bhd. disclosed its financial performance for the fourth quarter and full year ending December 31, 2023. In the fourth quarter, the company recorded a rise in sales, reaching MYR 525.97 million (approximately USD 124.73 million) compared to MYR 446.57 million (approximately USD 105.78 million) in the previous year. However, it reported a net loss of MYR 1.25 million (approximately USD 296,680) for the quarter, a significant decline from the net income of MYR 1.68 million (approximately USD 398,094) in the corresponding period last year. Basic loss per share from continuing operations stood at MYR 0.0018 (approximately USD 0.0004), down from the basic earnings per share of MYR 0.0025 (approximately USD 0.0006) a year ago, while diluted loss per share from continuing operations was MYR 0.0016 (approximately USD 0.0004), compared to MYR 0.0021 (approximately USD 0.0005) previously.

For the entire fiscal year, Malaysia Steel Works (KL) Bhd. witnessed a notable increase in sales, amounting to MYR 2,012.89 million (approximately USD 476.71 million) compared to MYR 1,778.29 million (approximately USD 420.90 million) in the prior year. However, the company's net income experienced a significant decline, totaling MYR 2.4 million (approximately USD 568,265) for the year compared to MYR 19.07 million (approximately USD 4.51 million) in the previous year. Basic earnings per share from continuing operations decreased to MYR 0.0035 (approximately USD 0.0008) from MYR 0.0282 (approximately USD 0.0067) a year ago, while diluted earnings per share from continuing operations dropped to MYR 0.003 (approximately USD 0.0007) from MYR 0.0239 (approximately USD 0.0057) in the preceding year. 

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