- Business
- Hiap Teck Venture Berhad is a Malaysian steel company primarily engaged in the manufacturing, renting, distribution, and sales of steel pipes, hollow sections, scaffolding equipment and accessories, as well as other steel products. The company operates through several segments including Trading, Manufacturing, Property and Investment, Transportation, and Mining and Exploration. Its product portfolio comprises steel pipes, hollow steel sections, scaffolding systems under the Huatraco brand, and steel slabs and billets. The company also provides transportation services via trucks and trailers, scaffolding works, and property investments. It serves diverse industries such as infrastructure, oil and gas, construction, furniture, water reticulation, power plants, and shipbuilding. Hiap Teck Venture operates domestically in Malaysia with subsidiaries including Alpine Pipe Manufacturing Sdn Bhd and Eastern Steel Sdn Bhd, the latter being a joint venture with Beijing Jianlong Group of China. Founded in 1993, the company is headquartered in Klang, Malaysia.
Recent major developments at Hiap Teck Venture Berhad include a strong financial performance in the fiscal year ended July 2024, where net profit more than tripled to RM106.3 million from RM30.91 million a year earlier, supported by stable steel prices, improved profit margins, and increased sales volumes. The company declared a first and final single-tier dividend of 0.5 sen per share for the fiscal year 2024. Strategic expansions are reflected in its ongoing ventures such as the joint venture for an integrated iron and steel mill with Beijing Jianlong Group, enhancing steel production capacity. The group sustained operational growth with diversified business segments including mining and exploration activities, and continued investment in infrastructure and logistics capabilities near Port Klang. These expansions and financial improvements position Hiap Teck Venture as a leading player in the Malaysian steel industry with growing regional significance.