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: Hap Seng Consolidated Bhd
's net profit in the third quarter ended Sept 30 was nearly 10% higher at RM190.69mil from the previous corresponding quarter due to an investment tax allowance on a biogas plant.
On the operating level, profit was slightly lower by 5% from the comparative quarter at RM284.8mil due to the lower contribution from the plantation and building materials divisions.
The board of directors declared a second interim dividend of 20 sen per share made payable on Dec 19, 2018.
In a stock exchange filing, the group said revenue had jumped 26% to RM1.76bil on higher contributions from all business divisions except plantation and building materials.
The plantation division's performance was brought down by lower average selling prices and sales volume of crude palm oil and palm kernel, the group said.
In the building material division, operating profit was affected by margins compression in the quarry and asphalt business as well as in Malaysian Mosaics Sdn Bhd due to competitive pricing and soft market demand.
Positively, the credit financing and trading divisions saw double digit growth in both revenue and operating profit over the year-ago quarter.
While the financing arm achieved a higher loan base and loan disbursements, the trading business posted higher sales volume and average selling prices.
The automotive segment saw a 50% increase in revenue to RM418.7mil over the preceding year quarter due to its expanded network of autohauses and the tax holiday period in June to August.
Operating profit in the division, however, came in at only 2% higher at RM5.3mil due to the initial start up costs of the commercial vehicle wholesale distribution business.
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