The Business Times
business-time-50

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.

    Financial resultsConstruction

    TRENDING NOW

    Industry watchers say LTA’s proposed change to the COE system would solve the current issue of premium cars being treated as mainstream ones.

    Mooted COE changes will solve category issues, but higher premiums likely: observers 

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    Malaysian Chinese bag-maker Liew Bin now sees value in protectionist measures as low-cost competition from China threatens Malaysian small and medium-sized enterprises.

    Once staunchly pro-China, Malaysian Chinese businesses are now distancing themselves from Beijing

    Singaporean architect Cliff Tan has turned his accessible approach to home design into an international consultancy.

    Cliff Tan has 7 million followers and a 4-month waitlist. Why won’t he expand his business?

    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