CSC Steel Holdings Bhd plans to expand its factory in Melaka to supplyhigher value steel and widen its product range.

We are currently studying to expand our factory here in line with the Economic Transformation Plan (ETP) by the goverment, but this will depend on the market, said Group Managing Director Liang Hsiu Chang.

He told this to Bernama after the visit by Deputy Minister of International Trade and Industry Datuk Jacob Dungau Sagan to the factory in Ayer Keroh today.

He, however, did not give details of the plan.

Liang said the company voiced several concerns over the Malaysian metal industry to Jacob and was pleased that the government was looking into the issues for the good of the industry.

The metal industry looks challenging this year with the unstable cost of raw materials like iron ore, so its difficult to target our revenue this year, but for the first quarter we made a profit, he added.

For the financial year ended Dec 31, 2010, CSC Steel posted pre-tax profit of RM94.775 million on a revenue of RM1.034 million compared to a pre-tax profit of RM116.562 million on a revenue of RM869.936 million in 2009. - Bernama