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Hong Leong Asia rides wave of demand for more homes

Yong Jun Yuan

Yong Jun Yuan

Published Fri, Aug 12, 2022 · 02:03 PM
    • Stephen Ho, Hong Leong Asia chief executive, said that the company is well-placed to bid for contracts that require a proportion of precast products to be manufactured locally.
    • Stephen Ho, Hong Leong Asia chief executive, said that the company is well-placed to bid for contracts that require a proportion of precast products to be manufactured locally. PHOTO: HONG LEONG ASIA

    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.

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