Leon Fuat To Continue To Monitor Steel Prices And Foreign Currencies

Leon Fuat Bhd will continue to monitor steel prices closely as well as related foreign currencies and take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management, its executive director Mr. Calvin Ooi Shang How,  said,

“We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut the global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022,” he said in a statement in conjunction with its 15th  AGM held today.

Leon Fuat Bhd, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group’s 15th AGM held today.

Shareholders passed a resolution approving a final single-tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (“FY2021”).

Shareholders also voted to re-elect Dato’ Sri Ooi Bin Keong, Mr. Tan Did Heng (“Did Heng”), Mr. Tan Sack Sen (“Sack Sen”) and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen.

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