MaxSteel toughened by pandemic challenges

Home-grown steel supplier gears up for expansion

Phua Wei Lin

Published Thu, Dec 29, 2022 · 05:50 AM

Enterprise 50

AMID the pressures of the Covid-19 pandemic, local steel supplier MaxSteel Enterprise forged stronger bonds with clients.

Early in the pandemic, when border closures disrupted supply chains, MaxSteel supported customers whose other suppliers could not operate. It was able to cater to their urgent needs as it was operating as an essential service and had materials imported from less affected regions.

In May 2021, when freight costs jumped five-fold, MaxSteel refused to cancel any customer orders. The company’s commitment to its customers paid off, as it retained their confidence. Just two months later, it made profits of over four times what it had lost.

That year, MaxSteel recorded a record turnover, up 200 per cent from the first pandemic year, and became a…