What Ann Joo Resources does

Ann Joo Resources Berhad is a Malaysian publicly listed steel group (klse:ANNJOO) headquartered in Petaling Jaya, operating three divisions: Upstream Steel (Ann Joo Integrated Steel's first modern Blast Furnace in Malaysia with 500,000 MT annual capacity combined with a 100 MT Electric Arc Furnace producing 820,000 MT of steel and 650,000 MT of rolled products), Downstream Steel (Ann Joo Metal as the largest steel stockist in Malaysia, plus processing at Ann Joo Steel Service Centre, Anshin Steel Processor, Saga Makmur Industri cut-and-bend rebar, and Ann Joo Metal Singapore for regional distribution), and Green Technology (Ann Joo Green Energy holding 29.99MW under the Corporate Green Power Programme, AJE Best-On solar hybrid systems, and Bumi Segar Indah waste management).

The company makes money through direct B2B sales of long steel products (billets, bars, wire rods) to construction contractors, engineering fabricators, oil & gas (via PETRONAS vendor registration), automotive, consumer electronics, and palm oil/petrochemical customers, plus downstream trading of flat and long products in carbon, stainless, and specialty steels. Pricing is quote-based, dependent on grade, dimensions, volume, and prevailing market conditions, with no public pricing tiers. The company serves customers primarily through its own direct sales offices and warehouses in Petaling Jaya, Shah Alam, Prai, and Singapore.

Ann Joo is currently undergoing a major strategic transformation: it is divesting its loss-making upstream steel business to Green Esteel Pte Ltd for RM348.7 million (expected H2 2026 close), which will halve its RM1.29 billion borrowings to RM630.3 million and book a RM157.1 million gain. The post-divestiture entity will focus on the downstream steel distribution franchise and is diversifying into infrastructure EPCC (via IAC Electricals acquired in 2025), industrial property development, and renewable energy. The Lim family maintains concentrated control, with Group Managing Director Dato' Lim Hong Thye holding the chairmanship of SEAISI and presidency of the ASEAN Iron and Steel Council since May 2024.

Name

Ann Joo Resources

Legal name

Ann Joo Resources Berhad

Website

https://annjoo.com.my

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ann Joo Resources is a Malaysian publicly listed integrated steel manufacturer and distributor (klse:ANNJOO) serving construction, oil & gas, engineering, and manufacturing customers via upstream blast furnace/EAF production and downstream trading and processing, currently divesting its loss-making upstream segment to refocus on downstream steel distribution, infrastructure EPCC, and green energy.

Ownership category

akta.pro rank

Product category

Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (331110), Primary Metal Manufacturing (331)

SIC

Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312), Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

akta.pro secondary industries

Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based) (IMAKABAB), Ferrous Metals Trading & Distribution (Iron Ore, Pig Iron, DRI/HBI, Ferroalloys) (IMAKAJAA)

Keywords

• Steel manufacturing
• Steel distribution
• Iron and steel products
• Downstream steel processing
• Solar power generation

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream Steel Manufacturing and Trading: Revenue from manufacturing and trading of iron, steel and steel-related products. The upstream division produces steel from iron-making through to finished long products (billets, bars, wire rods) for the construction and engineering sectors. This segment was loss-making as of 2025-2026 and is being divested to Green Esteel Pte Ltd.
2. Downstream Steel Trading and Distribution: Revenue from trading and distribution of a broadly diversified portfolio of carbon steel, stainless steel, and specialty steel products. Includes flat and long products, slit-and-sheared sheets, and cut-and-bent rebar. Serves oil & gas, petrochemical, palm oil, food & beverage, consumer electronics, automotive, engineering-fabrication, and construction sectors.
3. Green Technology (Solar Power and Waste Management): Revenue from green technology investments including solar power generation (under the Corporate Green Power Programme, 29.99MW allocation) and waste management services via Bumi Segar Indah Sdn. Bhd. Ann Joo Green Energy serves as the divisional holding company for these ESG-oriented initiatives.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Ann Joo Resources Berhad is an integrated Malaysian steel group engaged in the manufacturing and trading of steel and steel-related products. It operates an Upstream Steel Division (blast furnace iron-making and Electric Arc Furnace steel-making producing billets, bars, and wire rods), a Downstream Steel Division (steel distribution, slitting, shearing, levelling, and cut-and-bend rebar services), and a Green Technology Division (solar power generation under Malaysia's Corporate Green Power Programme and waste management).

Product overview

Ann Joo Resources Berhad is a Malaysian steel group operating through three divisions: Upstream Steel Division, Downstream Steel Division, and Green Technology Division. The Upstream division includes Ann Joo Integrated Steel (blast furnace iron-making with 500,000 MT capacity), Ann Joo Steel Berhad (EAF steel-making with 820,000 MT capacity and rolling mills with 650,000 MT capacity), and Anshin Steel Industries (angle bars and engineering products). The Downstream division comprises Ann Joo Metal (major steel distributor), Ann Joo Steel Service Centre (120,000 MT steel processing), Anshin Steel Processor (96,000 MT coil processing), Ann Joo Metal Singapore (regional distribution), and Saga Makmur Industri (60,000 MT rebar cutting/bending). The Green Technology division includes Ann Joo Green Energy (solar power under CGPP), AJE Best-On (solar hybrid solutions), and Bumi Segar Indah (waste management). The company positions itself as the most efficient steel producer in Southeast Asia with a workforce of over 2,000 employees.

Differentiator

Problem solved

Functional benefit

Brands

• Ann Joo Green Energy: Green technology and environmental enhancement initiatives division, including solar power production under Corporate Green Power Programme.
• Ann Joo Steel Berhad

Products and services

• Steel Billets, Deformed Bars, Mild Steel Round Bars, and Wire Rods Long steel products including billets, high yield deformed bars, mild steel round bars, and wire rods manufactured via EAF steel-making and rolling mills. Sold to construction contractors, engineering fabricators, and infrastructure developers across Malaysia and export markets.
• Hot Metal and Pig Iron Iron-making products (Hot Metal and Pig Iron) with Granulated Slag and Blast Furnace Off-Gas as by-products. Produced via the first modern Blast Furnace in Malaysia and only hybrid BF+EAF operation in Southeast Asia. Hot Metal is charged to the EAF for higher-purity steelmaking; balance is cast into Pig Iron.
• Equal Angle Bars, Engineering Round Bars, Flat Bars, Square Bars, and Black Shafts Engineering steel sections including equal angle bars, angle bars, round bars, flat bars, square bars, engineering round bars, and black shafts produced for downstream engineering and fabrication customers.
• Carbon Steel and Stainless Steel Distribution Products Diverse range of high-grade steel products stocked and distributed including carbon steel (mild steel plates, high tensile plates, carbon steel plates, pipes, hollow sections, angles, channels, flat bars, beams & columns, sheet piles, round bars, rails, tee bars, square bars) and stainless steel (plates, coils, pipes, sections, angles, channels, flat bars, beams, round bars, square bars). Distributed to oil & gas, petrochemical, palm oil, F&B, automotive, and engineering sectors. PETRONAS-registered supplier.
• Steel Slitting and Shearing Services Value-added slitting and shearing services for hot-rolled pickled and oiled coils, cold-rolled coils, galvanised iron, electro-galvanised steel sheets, silicon, aluminium, and stainless steels. Three slitter lines (up to 4.7mm thickness) and two levellers (up to 1,550mm wide); 120,000 MT annual capacity. Sold to automotive, consumer electronics, and furniture manufacturers.
• Steel Coil Levelling and Shearing Services Niche steel service centre specialising in levelling and shearing of hot-rolled coils, stainless coils, hot-rolled chequered coils, and high carbon hot-rolled coils. Two production lines with 96,000 MT annual rated capacity.
• High-Grade Steel Plates (Offshore Structural, Boiler & Pressure Vessel, Ship Building, High Strength, Mild Steel) Regional stockist and distributor of high-grade steel plates for oil & gas, pressure vessels, ship building, and engineering fabrication industries across Southeast Asia. Conforms to BS, SS, CS2 standards.
• Cut and Bend Rebar Services Bar cutting and bending services for the construction industry, including pre-cut and pre-bent deformed bars, bar bending schedule, rebar shop drawings, and project management services. 60,000 MT annual capacity.
• Solar Power Generation (Corporate Green Power Programme) Solar power generation under Malaysia's Corporate Green Power Programme with 29.99MW allocated export capacity, delivered via consortium partnership. Provides renewable electricity to the Malaysian power grid.
• Solar Hybrid and Renewable Energy Solutions Design and installation of custom roof mount, ground mount, tracking, and end-to-end solar systems for telecommunications and diverse industries.
• Solid Waste Management and Public Cleansing Services Solid waste management and public cleansing management services with innovative and sustainable waste management and renewable energy solutions. Sold to municipalities and commercial customers.

Quantifiable outcome

• RM157.1 million illustrative net gain from disposal of Ann Joo Steel Berhad to Green Esteel Pte Ltd, projected to materially strengthen net assets and earnings per share
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Two partnerships are on record, tiered unclear and core.

• Transyear Sdn BhdunclearStrategic or Co-development Partner · 11 March 2026Ann Joo Resources' unit entered a joint venture deal with Transyear Sdn Bhd. The specific terms, scope, and objectives of the joint venture were not detailed in the available source material.
• JAKS Solar Power Sdn Bhd and Fabulous Sunview Sdn Bhd (Consortium)coreStrategic or Co-development Partner · 1 August 2023Ann Joo Green Energy Sdn Bhd, together with consortium partners JAKS Solar Power Sdn Bhd and Fabulous Sunview Sdn Bhd, was successfully selected as a Solar Power Producer with an allocated export capacity of 29.99MW under Malaysia's Corporate Green Power Programme (CGPP) in August 2023. This consortium represents a strategic partnership in green energy development.

Scale indicators13 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• ArcelorMittal: ArcelorMittal is the world's largest integrated steel producer offering flat and long products across global markets. Comparable as a broad incumbent in steel manufacturing whose pricing and trade flows directly impact Malaysian steel market dynamics for Ann Joo.
• Hyundai Steel Company: Hyundai Steel is a Korean integrated steelmaker with EAF and BF capabilities and a broad portfolio including long products, plates, and automotive steel. Comparable as a larger incumbent operating hybrid steelmaking technology similar to Ann Joo's BF+EAF configuration.
• Lion Industries Corporation Berhad: Lion Industries is a Malaysian conglomerate with steel manufacturing operations (Lion Metal, Megasteel) that competes broadly with Ann Joo's upstream and downstream steel offerings as part of a diversified industrial portfolio.

Direct peers

• Mycron Steel Berhad: Mycron Steel is a Malaysia-listed cold rolled steel manufacturer and a direct competitor in the downstream flat steel and value-added processing segment served by Ann Joo Steel Service Centre and Anshin Steel Processor.
• Hiap Teck Venture Berhad: Hiap Teck Venture is a Malaysia-listed steel distributor with significant trading and processing operations, directly competing with Ann Joo Metal's downstream steel distribution and stockist business in Malaysia and the region.
• CSC Steel Holdings Berhad: CSC Steel Holdings is a Malaysia-listed cold rolled steel and galvanized steel producer. It directly overlaps with Ann Joo's downstream service centre processing of cold-rolled coils, galvanized iron, and electro-galvanized steel sheets for automotive and consumer electronics customers.
• Southern Steel Berhad: Southern Steel Berhad is a Malaysia-listed integrated steel manufacturer and was the original bidder for Ann Joo Steel Berhad before withdrawing in May 2025. It directly competes with Ann Joo in long steel products, wire rods, and downstream distribution across the Malaysian market.
• Malaysia Steel Works (KL) Bhd: Malaysia Steel Works is a Malaysia-listed steel manufacturer producing billets, steel bars, and wire rods. It directly competes with Ann Joo's upstream long-product portfolio and serves overlapping construction and infrastructure customers in Malaysia.

Regional players

• YTL Cement Berhad: YTL Cement is a Malaysia-listed building materials producer that competes in the broader construction supply chain alongside Ann Joo's rebar and steel products. Comparable as a regional building materials peer cited in CIMB's 2026 building materials sector earnings outlook.
• NatSteel Holdings (Singapore): NatSteel is a Singapore-based steel producer and recycler historically affiliated with Tata Steel, serving regional downstream steel demand including the Singapore market where Ann Joo Metal Singapore operates. Comparable as a regional stockist and processor in SE Asia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ann-joo-group

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ann Joo Resources