Lim Seong Hai Capital Chalks Impressive Gains In Turnover and Profits

Lim Seong Hai Capital Bhd had on 26 January 2022 released its first audited financial statement for the period ended 30 September 2021 with the Group achieving revenue of RM67.42 million for the Financial Period Ended (“FPE”) 30 September 2021 which represents an increase of RM19.29 million or 40.09% compared to RM48.12 million for the FPE 30 September 2020.

It said that the increase in the revenue is mainly contributed by the increase of revenue from the rental of machinery and distribution of building materials of RM10.02 million and RM7.95 million respectively for the FPE 30 September 2021 as compared to the FPE 30 September 2020.

The company said that the profit after tax of the Group had also increased by 91.79% or equivalent to RM3.80 million to RM7.93 million for the FPE 30 September 2021 from RM4.13 million in FPE 30 September 2020.

The Group had earlier announced a final single-tier dividend of 0.66 sen per ordinary share amounting to approximately RM2.34 million in respect of the current financial period (at the entitlement date to be determined and announced later) will be proposed for shareholders’ approval at the forthcoming First Annual General Meeting of the Company to be convened on a date to be announced later.

Speaking after the Board meeting to approve the audited financial statement, Tan Sri Datuk Seri Lim Keng Cheng said “We are optimistic about the long-term prospects of the construction-related products and services industry in Malaysia which are expected to progressively recover in 2021 and the following years in light of the economic stimuli and easing measures provided by the Government of Malaysia as well as on-going and upcoming construction projects.

He said in the statement that the continued success in securing orders from high-profile projects throughout Malaysia in the past is evidence of our ability to remain resilient and adaptive to challenging market conditions.

Further, it said that its ability to cater for construction projects across a broad spectrum of construction sub-sectors presents us with a large pool of opportunities into the various construction sub-sectors”.

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