Formally known as Weng Zheng Resources Berhad , WZ STEEL BERHAD was incorporated in Malaysia under the Companies Act , 1965 as a public limited company on 15 September 2004. With three (3) subsidiaries , WZSTEEL is an investment holding company, namely Weng Zheng Sdn Bhd ("WZSB"), Weng Zheng Trading ("WZT") and Weng Zheng Marketing Sdn Bhd (“WZM”) , herein collectively known as the WZ Steel Group (“WZSTEEL Group” or “Group”).
WZSB is principally involved in the manufacturing and processing cold drawn (“CD”) bright steel and other steel products. The end-products of Weng Zheng are mainly free-cutting, carbon steel and stainless polished shaft, while WZM and WZT are principally engaged in the trading of other steel products, including cut-to-size steel products such as angle bars, flat bars, pipe, channel, M.S. Plates, Steel beams, etc. The Group prides itself as one (1) of the leading local manufacturers of CD bright steel polished shafts for a wide spectrum of machining applications, which are customized to the needs and requirements of the machining processes of individual customers.
There are seven (7) people who hold the WZ Steel Berhad’s shares. The shareholders are Dato' Amin Rafie Bin Othman, Tan Ching Kee, Tan Chong Boon, Ng Chong Tin, Dato' Siow Kim Lun, Dato' Yeong Kok Hee and Ong Teck Chuan.
The primary stakeholders in the company are including the group chairman and independent non-executive director; others board directors, audit committees, remunerations committees, nomination committees, company secretaries, auditors, share registrar, and all the workers in the company with an interest in the firm’s decisions.
The interests of stakeholders addressed in WZ Steel Berhad’s public company documents explicitly by corporate social responsibility such as skill development, charitable donation, group medical and hospitalization policy. All employees are insured under the medical and hospitalization and personal accident insurance programs in addition to mandatory social security contribution. The sum insured under these programs are determined based on the level of seniority of each employee. In order to upgrade the employees’ knowledge and new skill sets, internal and external trainings are offered to eligible employees. Monetary contribution was made during the year to various worthy causes. Employees are also encouraged to participate in community services for the needy according to their will and ability.