【SMM Steel】Ann Joo restructures steel portfolio with Green Esteel deal

Published: May 26, 2026 16:54

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【SMM Steel】Malaysia's Ann Joo Resources has terminated its upstream asset sale to Southern Steel and will instead sell its steel units Ann Joo Steel and Ann Joo Integrated Steel to Singapore's Green Esteel for RM348.7 million. Ann Joo said the disposal aligns with its strategy to exit the capital-intensive upstream steel business and focus on downstream operations. Green Esteel, already a major shareholder of Southern Steel with a 50.1% stake, is consolidating its position in Malaysia's steel industry while advancing its low-carbon steel strategy.

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