MASTEEL’s Sukuk Ijarah is being guaranteed by Danajamin and consequently, Malaysian Rating Corporation Berhad (“MARC”) has on the 21st of November 2018 assigned a final financial guarantee supported rating of AAA IS(fg) with a stable outlook to the Company’s proposed Sukuk Ijarah Programme. The Company is indeed pleased to announce that its Sukuk Ijarah Issuance has been oversubscribed by approximately 30%.

The funds available from this issuance shall be used for the repayment of existing term loans, funding of general working capital requirements, and for the acquisition of a melting technological package which will significantly improve the conversion costs of the Company’s steel billets and fortify its competitiveness in the foreseeable future.

The injection of additional working capital funds into the Company will not only improve its liquidity position, but also allow it to scale up its operations in line with the installation of the new technological package.

Furthermore, in an environment of rising interest rates, the Company is diversifying a portion of its loans from floating-rates to a fixed-rate for a significant portion of its long-term debts in order to minimize the Company’s interest rate risks. The Company foresees this mix of financing will allow the Company to have a more efficient cost of capital.

Due to the robust shareholders’ funds of the Company, the issuance of the Sukuk Ijarah of RM130 Million in nominal value only increased the Company’s Gearing Ratio marginally from 0.46 times (as at 30 September 2018) to 0.61 times.

This announcement is dated 30 November 2018.

3Q18 Financial Results

On behalf of the Board of Directors of MASTEEL, we are pleased to announce that the Company had on 8 November 2018 lodged with the Securities Commission Malaysia (“SC”) for the proposed establishment of the Sukuk Ijarah Programme under the SC’s Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework.

The tenure of the Sukuk Ijarah Programme is up to seven (7) years from the date of first issuance under the Sukuk Ijarah Programme.

Danajamin will issue a Kafalah Guarantee to guarantee the nominal value of Sukuk Ijarah issued (of up to nominal value of RM130 million) and one (1) profit / rental payment obligation. First issuance of the Sukuk Ijarah is expected to be for a period of up to five (5) years. Danajamin may at its discretion extend the tenure of the Kafalah Guarantee for a further period of two (2) years.

The proceeds from the issuance of the Sukuk Ijarah shall be used for refinancing, capital expenditure and general working capital requirements.

Kuwait Finance House (Malaysia) Berhad is the Principal Adviser / Lead Arranger, Lead Manager, Shariah Adviser and Facility Agent for the Sukuk Ijarah Programme.

This announcement is dated 8 November 2018.

Application to Strike Off Dormant Subsidiary

2Q18 Financial Results

Final single-tier dividend of 0.90 sen per ordinary shares in respect of the financial year ended 31 December 2017.

Kindly be advised of the following :

1)  The above Company’s securities will be traded and quoted “Ex – Dividend” as from: 27 Jul 2018
2)  The last date of lodgment : 31 Jul 2018
3)  Date Payable : 21 Aug 2018

GENERAL MEETINGS: Outcome of Meeting

1Q18 Financial Results

Circular/Notice to Shareholders

Annual Report & CG Report

GENERAL MEETINGS: Notice of Meeting

The Board of Directors of MASTEEL wishes to announce that the Company proposes to obtain the shareholders’ approval at the forthcoming Forty-Sixth (“46th”) Annual General Meeting (“AGM”) of the Company on the following:

(i)  Proposed Renewal of Authority for the Company to Purchase its own Ordinary Shares (“Proposed of Renewal of Share Buy Back”), and

(ii) Proposed Adoption of New Constitution of the Company.

A Statement/Circular to Shareholders containing details in relation to the Proposed Renewal of Share Buy-Back and Proposed Adoption of New Constitution of the Company will be distributed to shareholders together with the Annual Report of the Company for the financial year ended 31 December 2017.

This announcement is dated 4 April 2018.

4Q17 Financial Results

Particulars of substantial Securities Holder

Details of changes

The percentage of direct interest is based on the enlarged total number of issued shares of 427,241,124 after the bonus issue.

Particulars of substantial Securities Holder

Details of changes

The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of the Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd.

The percentage of indirect interest is based on the enlarged total number of issued shares of 427,241,124 after the bonus issue.

Particulars of substantial Securities Holder

Details of changes

The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of the Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd.

The percentage of indirect interest is based on the enlarged total number of issued shares of 427,241,124 after the bonus issue.

Particulars of Director

Details of changes

Bonus Issue on the basis of 1 bonus share for every 3 existing ordinary shares held.

Indirect Interest

Pursuant to Paragraph 14.06 and 14.08 of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the following Director has notified on the change of his indirect interest in the securities of the Company as set out in the table below:-

Notes:-

* Deemed interest pursuant to Section 8(4) of the Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd.

# Based on the enlarged total number of issued shares of 427,241,124 after the bonus issue.

This announcement is dated 15 February 2018.

We refer to the announcements dated 23 November 2017, 11 December 2017, 14 December 2017, 29 January 2018 and 14 February 2018 in relation to the Bonus Issue and the circular to shareholders dated 29 December 2017. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

On behalf of the Board, UOBKH wishes to announce that 106,808,988 Bonus Shares were listed and quoted on the Main Market of Bursa Securities on 15 February 2018, marking the completion of the Bonus Issue.

This announcement is dated 15 February 2018.

Bonus Issue of up to 106,810,281 new ordinary shares in Malaysia Steel Works (KL) Bhd (“Masteel”) (“Bonus Share(s)”) on the basis of 1 Bonus Share for every 3 existing ordinary shares held in Masteel at 5.00 p.m. on 14 February 2018.

Kindly be advised of the following :

1)    The above Company’s securities will be traded and quoted “[Ex-Bonus Issue]” as from: 12 Feb 2018
2)    The last date of lodgment : 14 Feb 2018
3)    Retention Money: Where securities are not delivered in time for registration by the seller, then the brokers concerned:-
a)    Selling Broker to deduct <1/4>, of Selling Price against the Selling Client
b)    Buying Broker to deduct <25%>, of Purchase Price against the Buying Client
c)    Between Broker and Broker, the deduction of <1/4>, of the Transacted Price is applicable.

Remarks 1: “Bursa Malaysia Securities Bhd would like to clarify that based on settlement taking place after 14 February 2018 with bonus issue of MASTEEL shares, any shareholder who is entitled to receive MASTEEL bonus issue shares, may sell any or all of his MASTEEL shares arising from the bonus issue beginning the Ex-Date (12 February 2018).

For example, if Mr X purchases 300 MASTEEL shares on cum basis on 9 February 2018, Mr X should receive 300 shares on 14 February 2018. As a result of the bonus issue, a total of 400 MASTEEL shares will be credited into Mr X’s CDS account on the night of 14 February 2018 being the Book Closing Date. Therefore, Mr X can sell the bonus issue shares of 400 on or after the Ex-Date ie from 12 February 2018 onwards.

Remarks 2: The Bonus Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 15 February 2018, being 1 market day after the Entitlement Date. The share registrar of Masteel will issue and despatch notices of allotment of the Bonus Shares to all entitled shareholders of Masteel within 4 market days after the date of the listing of and quotation for the Bonus Shares on the Main Market of Bursa Securities.

The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the Company’s announcement dated 25 May 2017 in relation to the Private Placement.

We refer to the announcement made by the Company on 25 May 2017, the announcement of the signing of the Subscription Agreement dated 17 July 2017 and the announcement of the signing of the Supplemental Agreement dated 30 October 2017.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company has completed the Private Placement, following the listing of and quotation for 4,800,000 Masteel Shares on 30 January 2018. The Company wishes to inform that 24,300,000 Masteel Shares under the Private Placement have been fully subscribed by Macquarie Bank and the Company has raised a total of RM27,627,175 from the Private Placement.

This announcement is dated 30 January 2018.

Outcome of Meeting

The terms used herein, unless the context otherwise states, shall bear the same meaning as those defined in the Company’s announcement dated 25 May 2017 in relation to the Private Placement.

We refer to the announcement made by the Company on 25 May 2017, the announcement of the signing of the Subscription Agreement dated 17 July 2017 and the announcement of the signing of the Supplemental Agreement dated 30 October 2017.

On behalf of the Board, RHB Investment Bank wishes to announce that the Company had on 25 January 2018 received the 15th and final Subscription Notice from Macquarie Bank for the subscription of 4,800,000 Masteel Shares at a subscription price of RM1.502. The said subscription price represents a discount of approximately 9.02% to the VWAPs of Masteel Shares for the 5 consecutive Trading Days up to and including 24 January 2018 of RM1.6509.

Accordingly, the Company will issue and allot 4,800,000 Masteel Shares to Macquarie on 26 January 2018. Such shares will be listed and quoted on the Main Market of Bursa Securities on 30 January 2018.

This announcement is dated 25 January 2018.

Particulars of substantial Securities Holder

Details of changes

The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd.

The percentage of indirect interest is based on the total number of issued shares excluding 423,800 shares bought back by the Company and retained as treasury shares.

Particulars of substantial Securities Holder

Details of changes

The percentage of direct interest is based on the total amount of issued shares excluding 423,800 shares bought back by the Company and retained as treasury shares.

Particulars of substantial Securities Holder

Details of changes

The indirect interest are registered as follows:-
(i) TYY Resources Sdn. Bhd. (98,169,462 shares)
- Deemed interest by virtue of her substantial shareholdings in TYY Resources Sdn. Bhd.
(ii) Kemajuan Rekacekap Sdn. Bhd. (7,871,599 shares)
- Deemed interest by virtue of her substantial shareholdings in Kemajuan Rekacekap Sdn. Bhd.

The percentage of indirect interest is based on the total number of issued shares excluding 423,800 shares bought back by the Company and retained as treasury shares.

This announcement is dated 18 January 2018.

Particulars of substantial Securities Holder

Details of changes

The indirect interest is registered in the name of TYY Resources Sdn. Bhd. Deemed interest pursuant to Section 8(4) of Companies Act 2016 by virtue of his interest in TYY Resources Sdn. Bhd.

The percentage of indirect interest is based on the total number of issued shares excluding 423,800 shares bought back by the Company and retained as treasury shares.

Particulars of Director

Details of changes

Acquisition of Shares via Married deal

Indirect Interest

Circular/Notice to Shareholders

GENERAL MEETINGS: Notice of Meeting

We refer to the announcements dated 23 November 2017 and 11 December 2017 in relation to the Proposed Bonus Issue. Unless otherwise defined, the definitions set out in the previous announcements shall apply herein.

On behalf of the Board, UOBKH wishes to announce that Bursa Securities has, vide its letter dated 14 December 2017, approved the listing of up to 106,810,281 Bonus Shares to be issued pursuant to the Proposed Bonus Issue subject to the following conditions:-

1. Masteel and UOBKH must fully comply with the relevant provisions under the Main Market Listing Requirements (“Main LR”) pertaining to the implementation of the Proposed Bonus Issue;
2. Masteel and UOBKH to inform Bursa Securities upon completion of the Proposed Bonus Issue;
3. Masteel to furnish Bursa Securities with a written confirmation of its compliance with the terms and conditions of Bursa Securities’ approval once the Proposed Bonus Issue is completed;
4. Masteel to furnish Bursa Securities with a certified true copy of the resolutions passed by shareholders at the extraordinary general meeting for the Proposed Bonus Issue; and
5. Masteel and UOBKH are required to make the relevant announcements pursuant to Paragraph 6.35(2)(a) & (b) and 6.35(4) of the Main LR.

This announcement is dated 14 December 2017.

PROPOSED BONUS ISSUE OF UP TO 106,810,281 NEW ORDINARY SHARES IN MASTEEL (“MASTEEL SHARE(S)” OR “SHARE(S)”) (“BONUS SHARES”) ON THE BASIS OF 1 BONUS SHARE FOR EVERY 3 EXISTING MASTEEL SHARES HELD ON AN ENTITLEMENT DATE TO BE DETERMINED LATER (“PROPOSED BONUS ISSUE”)

We refer to the announcement dated 23 November 2017 in relation to the Proposed Bonus Issue. Unless otherwise defined, the definitions set out in the previous announcement shall apply herein.

On behalf of the Board, UOBKH wishes to announce that the listing application in relation to the Proposed Bonus Issue has been submitted to Bursa Securities on 11 December 2017.

This announcement is dated 11 December 2017.

3Q17 Financial Results