- Incorporation of Perwaja Terengganu Sdn Bhd (PTSB) under the Government’s initiative to rationalise the steel industry and reduce the country’s dependence on imported steel.
- Commissioned HBI plant – annual production capacity of 600,000 tonnes.
- Commissioned 3 units of alternating current electric arc furnaces and 2 units of 4-strand continuous casting machines – combine annual productioncapacity of 350,000 tonnes of semi-finished long steel products.
- Incorporation of Perwaja Steel Sdn Bhd.Commissioned an additional ladle furnace – production capacity of semi-finished long steel products increased to 400,000 tonnes per year.
- Expanded semi-finished long steel production capacity to 650,000 tonnes per year with a unit of 6-strand continuous casting machine.
- Commissioned 2 DRI reactors with production capacity of 1.2 million tones per year.
- Achieved ISO 9001:2000 certification for the “Manufacture of direct reduced iron and steel billets, beam blanks and blooms” certified by SIRIM QAS International Sdn Bhd.
- Upgraded production plant with 2 direct current electric arc furnaces, 2 ladle furnaces and a 4-strand continuous casting machine – increased production capacity of semi-finished long steel products to 1.3 million tonnes per year.
- Awarded the “Sijil Penghargaan” with respect to Perwaja Steel’s contribution towards the success of “Program Pengurusan Hazad Kesihatan Reproduckif di Sektor Pembuatan” by Gabungan Penyelidikan Keselamatan & Kesihatan Perkerjaan.
- Privatization of Perwaja group of companies with Maju Holdings Sdn Bhd as ultimate holding company.
- Kinsteel berhad acquired 51% of Perwaja Steel in an strategic alliance agreement with Maju Holdings Berhad.
- Incorporation of Perwaja Holdings Berhad.
- Listing of Perwaja Holdings Berhad on Mainboard of Bursa Malaysia.