Johor steel distributor, built to US$28 million without outside equity, arranges its first committed source of outside capital, available following a U.S. listing, to develop Matcon, a construction materials platform aimed at a Southeast Asian market worth more than US$220 billion a year and still run largely on phone calls, paper and handshake credit

JOHOR BAHRU, MALAYSIA – Media OutReach Newswire – 25 September 2026 – GrabSteel, the Malaysian steel distributor founded by Barry Lee Wee Chan and Alvis Chong, has entered into definitive agreements for a committed equity facility of up to US$100 million with White Lion Capital LLC, a United States multi-strategy family office.

Read more: GrabSteel Enters into Committed Equity Facility of up to US$100 Million with White Lion Capital