KUALA LUMPUR (Nov 24): Malaysia Steel Works (KL) Bhd (Masteel) rose as much as 33 sen or 25% to RM1.65, after the company announced net profit rose significantly to RM38.67 million in the third quarter ended Sept 30, 2017 (3QFY17), from RM1.24 million a year earlier.

At 10:52am, Masteel shares pared gains at RM1.52, with some 27 million shares traded. Masteel, which was Bursa Malaysia's second most active stock, was also the third largest gainer.

Yesterday, Masteel said 9MFY17 net profit rose to RM63.34 million, from RM17 million a year earlier.