The Business Times
business-time-50

Hiap Tong expects ‘significantly higher’ FY2023 net profit

google-preferred-sourceAdd BT as a preferred source
Yong Jun Yuan

Yong Jun Yuan

Published Sun, May 21, 2023 · 03:38 PM
    • Hiap Tong says that it will release its financial statements on or before May 30, 2023.
    • Hiap Tong says that it will release its financial statements on or before May 30, 2023. PHOTO: BT FILE

    CATALIST-LISTED crane provider Hiap Tong Corporation said that it expects to record “significantly higher” net profit after tax for its FY2023 ended Mar 31, as compared with FY2022.

    In a bourse filing on Saturday (May 20), the group attributed the higher net profit after tax to new construction projects under the lifting and haulage segment, as well as the full resumption of business operations in Singapore and Malaysia after the pandemic.

    The company added that it will release its financial statements on or before May 30, 2023.

    In FY2022, the group posted a net profit of S$1.6 million, reversing the net loss of S$335,000 that it posted in FY2021.

    Shares of Hiap Tong last closed down S$0.005 or 4.8 per cent at S$0.099 on Friday.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Hiap TongConstructionFinancial results

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Source of wealth establishment processes are typically the most time-intensive elements in onboarding ultra-high-net-worth clients.

    ‘Singapore cannot afford to keep losing clients to Dubai and Hong Kong’: Industry says faster onboarding vital for wealth hub edge

    The lack of operational clarity in the shake-up of Indonesia’s commodities exports is showing up in trading activity, with fresh fruit bunch prices declining in Sumatra and Kalimantan.

    Indonesia’s commodity export shake-up sparks industry alarm, investor jitters

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    When Singapore tightens its building codes or introduces new heat-mitigation standards for migrant workers, it also fosters the development of high-value IP.

    Singapore is showing why cooling is the next investment asset

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More