YKGI’s financial performance has greatly improved after its Board of Directors appointed Dato’ Sri Victor Hii as the Group’s Managing Director in 2017.
Dato’ Sri Victor’s first task upon taking on the leadership at the YKGI Group was to improve the Group’s financial standing. Towards this, a paradigm shift was necessary for business continuity and sustainability. He embarked on restructuring the business model by divesting in the non-core and the loss-generating aspects of the business, and focused on moving the business into a more downstream segment of the steel industry, where better value creation is possible.
He also mitigated losses by ensuring higher sales from one of the Group’s subsidiaries , a home-grown Sarawak company, ASTEEL Group, which is the biggest integrated colour line in East Malaysia.
These strategic efforts placed the business in greater profitability. Additionally, the decision to divest a loss-making coil business and placing more focus on their operations in East Malaysia has positively impacted YKGI Group’s revenue.
Stock: [ASTEEL]: ASTEEL GROUP BERHAD
2021-02-25 13:11 | Report Abuse
YKGI’s financial performance has greatly improved after its Board of Directors appointed Dato’ Sri Victor Hii as the Group’s Managing Director in 2017.
Dato’ Sri Victor’s first task upon taking on the leadership at the YKGI Group was to improve the Group’s financial standing. Towards this, a paradigm shift was necessary for business continuity and sustainability. He embarked on restructuring the business model by divesting in the non-core and the loss-generating aspects of the business, and focused on moving the business into a more downstream segment of the steel industry, where better value creation is possible.
He also mitigated losses by ensuring higher sales from one of the Group’s subsidiaries , a home-grown Sarawak company, ASTEEL Group, which is the biggest integrated colour line in East Malaysia.
These strategic efforts placed the business in greater profitability. Additionally, the decision to divest a loss-making coil business and placing more focus on their operations in East Malaysia has positively impacted YKGI Group’s revenue.