Hiap Teck poised for sequential earnings

KUALA LUMPUR: There could be sequential earnings improvement in store for Hiap Teck Venture Bhd as steel prices continue to rise amid optimism over China's economic reopening, says Hong Leong Investment Bank (HLIB) Research.

Following the release of positive earnings in the 2QFY23, the company's management has guided for improved earnings in the subsequent quarter, supported by both improving prices and a seasonal recovery in domestic steel demand.