On Feb 27, Hong Leong Asia executive director and CEO Stephen Ho acquired 110,000 shares at an average price of S$0.929 a share. This doubled his direct interest from 0.014 per cent to 0.029 per cent. The previous 103,500 shares were acquired at an average price of S$0.519 per share in November 2020.

 

Ho has extensive experience in finance, treasury and risk management from his executive positions previously held at Wilmar and Dutch multinational corporate Royal Philips.

 

On Feb 20, Hong Leong Asia announced that its subsidiary China Yuchai International had entered a strategic cooperation agreement with Kim Long Motor Hue, a subsidiary of Vietnam&rsquo s Futa Group. The agreement includes technology licences, component supply, and support for constructing an engine factory in Vietnam.

 

Kim Long Motor Hue will manufacture engines for trucks, buses, and commercial vehicles, with exclusive sales rights in Vietnam and priority rights in other Asean countries and South Korea.

 

The licences are valid for 15 years, with total licensing fees of US$28 million. Yuchai will provide technical services for equipment installation and commissioning as well as supply all engine assembly parts and service kits.

Earnings per share come in at S$0.0511 total dividend of S$0.04 per share declared

 

HONG Leong Asia reported a net profit of S$38.2 million for its second half ended Dec 31, 12.2 per cent higher than the S$34.1 million recorded in the year-ago period. 

 

Revenue stood at S$1.998 billion for the group, which manufactures and sells powertrain solutions and building materials, down 0.4 per cent from S$2 billion the year before. 

 

Its profitability was boosted by strong performances in its powertrain solutions and building materials units, the group said on Wednesday (Feb 26). This was on the back of higher sales volumes in the marine and power generation business, as well as improved market conditions in Singapore and Malaysia that resulted in greater sales volumes for ready-mixed concrete, Hong Leong added. 

 

Earnings per share for H2 came in at S$0.0511, a 12.2 per cent increase from S$0.0456 in the same period the year before.  

 

For the full year, Hong Leong reported a 35.3 per cent rise in net profit to S$87.8 million, compared with S$64.9 million in the previous financial year.

 

FY2024 revenue stood at S$4.2 billion, up from S$4.1 billion the year before. 

 

The group declared a total dividend of S$0.04 per share, double the S$0.02 per share in the previous year. 

 

Hong Leong said its building materials unit in Singapore expects its order book in the pre-cast and ready-made concrete segments to continue growing, in light of new public- and private-sector projects.

 

However, the group also said it &ldquo expects challenges from higher input costs and disruptions in supply chains as geopolitical tensions rise and trade wars escalate&rdquo .

 

Hong Leong Asia is the trade and industry arm of Hong Leong Group, whose executive chairman is Kwek Leng Beng. He declared that on Tuesday, he had filed a lawsuit against his son Sherman Kwek to address an &ldquo attempted coup&rdquo .  

 

Kwek Leng Beng&rsquo s cousin, Kwek Leng Peck, is the executive chairman of Hong Leong Asia.