KUALA LUMPUR: Hap Seng Consolidated Bhd
’s net profit eased to RM135.08 million in the second quarter of 2026 (2Q 2026) ended June 30, 2026, compared to RM143.68 million in the previous corresponding quarter.
In a filing with Bursa Malaysia, the company said that lower profit contribution from its property and building materials division more than offset higher contribution from the plantation, automotive and trading divisions.
Its revenue rose to RM1.37 billion, six per cent higher compared with RM1.29 billion in 2Q 2025.
For the first half of 2026 (1H 2026) ended Dec 31, 2026, Hap Seng’s net profit declined to RM229.81 million compared with RM245.35 million a year ago, while revenue increased to RM2.56 billion from RM2.47 billion previously.
Looking ahead, Hap Seng, which is involved in plantations, property, financing, automotive and trading, expects crude palm oil (CPO) prices to remain resilient in the second half of 2026.
"This momentum is underpinned by elevated crude oil prices amid ongoing geopolitical tensions in West Asia, higher biodiesel mandates in Indonesia and Malaysia, and CPO’s favourable price discount relative to major competing edible oils.
"Additionally, the replenishment of palm oil stocks by India, a major palm oil importing country, ahead of several festivities in August to November 2026 and the strengthening of the El Nino weather pattern are expected to tighten CPO supply, mitigating downside price risk.
On the property sector, Hap Seng said the Malaysian market is expected to maintain momentum in the second half of 2026, supported by stable employment conditions, continued infrastructure development, and government initiatives aimed at promoting home ownership and investment activities.
On the Malaysian automotive industry, it expects the sector to be robust in the second half of 2026, supported by sustained consumer demand, stable economic conditions and continued growth in the electrified vehicle segment, as the Malaysian Automotive Association has upgraded the total industry volume (TIV) forecast from 790,000 units to 800,000 units, with TIV in 2H 2026 outpacing the first half by 7.6 per cent.
Hap Seng added that it will continue to closely monitor global and domestic economic developments amid ongoing geopolitical tensions in West Asia to manage operational challenges across its business segments. - Bernama
