Hiap Teck expects global steel industry conditions to remain challenging

PETALING JAYA: Hiap Teck Venture Bhd expects global steel industry conditions to remain challenging, with demand growth subdued and prices stabilising at lower levels amid persistent supply–demand imbalances.

In a filing with Bursa Malaysia, the steel pipe manufacturer’s net profit for the fourth quarter ended July 31, 2025, dropped to RM19.71mil from RM47.53mil in the previous corresponding period, while revenue fell to RM342.74mil from RM416.57mil a year earlier.

Hiap Teck said the lower revenue was mainly due to lower selling prices and a drop in sales volumes.

For the financial year ended July 31, 2025, Hiap Teck’s net profit rose to RM109.12mil from RM106.35mil in the previous corresponding period, while revenue dropped to RM1.44bil from RM1.68bil previously.

The company has proposed a first and final single-tier dividend of 0.50 sen per share. The entitlement and payment dates will be determined and announced at a later date.