Hong Leong Asia FY2016 loss deepens 17% to S$71.3m

Published Tue, Feb 28, 2017 · 10:20 AM

HONG Leong Asia, the trade and industry arm of Hong Leong Group, on Tuesday posted a 17.3 per cent deepening of net loss to S$71.3 million for the full year ended Dec 31, 2016 (FY2016), from S$60.7 million a year ago.

Revenue fell by 8.8 per cent year on year from S$4.08 billion to S$3.72 billion, due mainly to slowing economic growth in China which affected Yuchai and Xinfei, the company said.

Loss per share came up to 19.05 Singapore cents for FY2016, versus 16.24 cents in the previous year.

Hong Leong Asia has proposed a first and final dividend of one Singapore cent for the period.

The company said that it expects the performance of its business units to be weak in the first half of 2017, citing a challenging global business environment, marked by slower economic growth in China and the region.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets


Get the latest coverage and full access to all BT premium content.


Browse corporate subscription here