Aggressive New Hoong Fatt determined to push up earnings

Chin: The group is focusing on improving cost efficiencies and reducing wastage while growing its business to turn its net profit trend upwards.

PETALING JAYA: Automotive replacement parts maker New Hoong Fatt Holdings Bhd (NHF) is undertaking aggressive measures to put the group on a stronger footing after posting a decline in earnings for the last two fiscal years - financial year 2017 (FY17) and FY18.

After hitting its highest-ever net profit of RM30mil in FY16, NHF’s net profit has since been on a downtrend.