Hit by rising costs, Hup Seng Industries' profit falls 15%

KUALA LUMPUR: Hup Seng Industries Bhd, which posted a lower net profit of RM3.03mil in the second quarter ended June 30, expects the operating environment to remain highly competitive this year.

“The sharp increase in the global commodity prices and the government’s gradual withdrawal of food and fuel subsidies which put pressure on the group’s input costs remains a concern.