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November 30, 2015 1:40 PM ET

Metals and Mining

Company Overview of Perwaja Steel Sdn. Bhd.

Company Overview

Perwaja Steel Sdn. Bhd. manufactures and sells iron and steel products in Malaysia. The company’s products include billets, direct reduced iron, beam blanks, blooms, deformed bars, wire rods, drawn wire, and nails for domestic and international market. It offers semifinished and finished steel products for local and international distribution. The company was formerly known as Perwaja Terengganu Sdn Bhd and changed its name to Perwaja Steel Sdn. Bhd. in 1989. Perwaja Steel Sdn. Bhd. was founded in 1982 and is based in Kuala Lumpur, Malaysia. The company operates as a subsidiary of Perwaja Holdings Bhd.

Level 31 Maju Tower

1001 Jalan Sultan Ismail

Kuala Lumpur,  50250


Founded in 1982


60 3 2772 8988


60 3 2772 8973

Key Executives for Perwaja Steel Sdn. Bhd.

Chief Executive Officer
Age: 43
Compensation as of Fiscal Year 2015.

Perwaja Steel Sdn. Bhd. Key Developments

Lonpac Insurance Berhad Serves Writ of Summons to Kinsteel Bhd, Perfect Channel Sdn. Bhd and Perwaja Steel Sdn. Bhd

The board of directors of Kinsteel Bhd announced that the company, Perfect Channel Sdn Bhd and Perwaja Steel Sdn Bhd had on 18 September 2015 been served with a Writ of Summons and Statement of Claims dated 4 September 2015 filed by Lonpac Insurance Berhad through its solicitors Messrs Azim, Tunku Farik & Wong against the Defendants. The Plaintiff is claiming for its outstanding insurance premium for insurance coverage period between 15 January 2014 to 25 May 2014. The amount claimed for includes: The outstanding insurance premium amounting to MYR 2,722,767.04; Interest calculated on the sum of MYR 2,722,767.04 at the rate of 8% per annum from 30 September 2014 to the date of full payment; Costs of this action; and Such further and/or other relief as the Court deems fit. The case had been fixed for case management at the Kuala Lumpur High Court on 12 October 2015.

Perwaja Steel Sdn Bhd to Cease Operations and Lay Off 1,500 Employees

Perwaja Steel Sdn Bhd will cease operations and lay off all its 1,500 employees by the end of December 2014. Attempts to save the company from receivership had failed and it cost the government billions of ringgit as losses piled up.

Lembaga Kumpulan Wang Simpanan Pekerja Files Suit Against Perwaja Steel Sdn Bhd

The Board of Directors of PHB announced that Perwaja Steel Sdn Bhd (PSSB) had on 1 September 2014 received a Writ of Summons dated 13 August 2014 and Statement of Claim dated 11 August 2014 from Lembaga Kumpulan Wang Simpanan Pekerja (KWSP). KWSP has named PSSB and nine directors of PSSB as Defendants in the suit. KWSP is claiming for a total sum of RMB 4,627,852.00 from PSSB, for outstanding employees contribution and for dividend and interest accrued on the outstanding sum to be assessed by the Court from the date of default up to the date of full settlement, and all relevant legal costs incurred in relation to the suit.

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