Its job scope for the contract involves supplying concrete cement and metal for the upgrading of the Train Cargo Terminal at Padang Besar, Perlis, Dolphin said in a filing with Bursa Malaysia.
KUALA LUMPUR: Hock Seng Lee Bhd posted a net profit of RM14.12mil in Q2 ended June 30, 2018, a 44% improvement over RM9.78mil recorded in the previous corresponding quarter as revenue surged 103% to RM154.25mil.
According to the group, the improved performance was due to higher construction activities carried out during the quarter.
"Accelerated execution of its mega-projects, as they entered mid-phases of construction, had led to improvement across all financial measures," it said in a press statement.
The board of directors has declared a first interim dividend of one sen per share payable on Oct 10, 2018.
For the quarter under review, revenue for the group's construction segment more than doubled to RM138.69mil from RM59.15 mil a year earlier. Net profit before tax jumped to RM13.33mil from RM7.26 in the year-ago quarter.
The property segment was flattish with a slightly lower revenue of RM15.56mil versus RM16.75mil in 2QFY17 and a similarly lower net profit before tax of RM5.52mil from RM5.86mil.
Hock Seng Lee had recently announced the procurement of a new project worth RM101.19mil involving the construction of Maktab Rendah Sains Mara in Bintulu, Sarawak.
"“Our successful bid for the MRSM Bintulu contract reinforces that the construction industry in Sarawak is robust and that HSL remains firmly at the forefront of it.
"This new project has tipped the value of projects in hand over the RM3 billion mark to RM3.1 billion, of which some RM2.5 billion is unbilled,” said group managing director Datuk Paul Yu Chee Hoe.
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