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Hong Leong Asia rides wave of demand for more homes

AS the construction industry recovers from its Covid-induced slumber, industrial conglomerate Hong Leong Asia (HLA) expects continued growth in its building materials business.

On Thursday (Aug 11), the company posted a 4.5 per cent year-on-year increase in net profit to S$42.6 million for the first half of the year ended Jun 30.

Revenue was down 26.1 per cent to S$2.1 billion, after the company's diesel engine business in China posted lower sales volumes.

HLA's building materials unit, however,...

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