【Press Release】MASTEEL FULLY REPAYS RM50 MILLION CAPONE CLO

MASTEEL FULLY REPAYS RM50 MILLION CAPONE CLO

Dato’ Sri Tai Hean Leng, Managing Director/Chief Executive Officer of Malaysia Steel Works (KL) Bhd (“Masteel”) announced that the Company has on 15th day of September 2010 fully repaid its existing term loan facility with CapOne Berhad amounting to RM50.0 million in one lump sum payment which forms part of the financing portfolio under the Collateralised Loan Obligation Bond Issuance (“CapOne CLO”) issued by CapOne Berhad expiring on 20 September 2010.

With the aforesaid settlement, Masteel again has demonstrated its sound financial capacities by the timely fulfillment of all its financial obligations.

About Masteel

Malaysia Steel Works (KL) Bhd or its stock name, Masteel, is listed on the Main Market of Bursa Malaysia Securities Berhad. It is involved in the manufacturing of high-tensile deformed steel bars, mild steel round bars and steel billets. It exports 30% to 40% of its products and has 68 domestic dealers and several international trading houses as partners in Australia, New Zealand, Indonesia, Singapore, Thailand, Vietnam and The Philippines.Masteel is one of the top five integrated steel companies in Malaysia and currently commands a market share of about 10% of the industry.

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