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20 Nov

Eonmetall’s profit tumbles on lower steel products demand

Malaysian steel firm Eonmetall has seen its net profit tumble 97.65% in the third quarter, due to lower steel product demand amid a challenging global market, Kallanish notes. The firm says in a bourse filing that its net profit for the quarter plunged to MYR 144,000 ($30,855) from MYR 6.12 million a year ago. The lower profit was mainly attributed to lower steel product demand due to global market conditions, rental and legal expenses incurred, as well as depr…
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Siew Mung Tan  |  Malaysia
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