HEB Group successfully clinched RM103 million worth of contracts in the short span of eight months since its listing in August 2016; Management is positive the Group would secure more projects in the near future based on its proven track record; HEB Group looks forward to better growth prospects ahead and endeavours to maintain its earnings growth momentum. Kuala Lumpur, 27 April 2017 – HSS Engineers Berhad (“HEB” or the “Company”) held its Annual General Meeting (“AGM”) today. The Audited Financial Statements for the financial year ended 31 December 2016 together with the reports of the Directors and Auditors were duly received by the Company’s shareholders. All resolutions under the Ordinary and Special Business were duly passed by HEB’s shareholders. Speaking to media after the AGM, Executive Director of HEB, Dato’ Sri Ir. Kuna Sittampalam said, “2016 was a good year for us, having delivered a commendable set of results where our FY16 revenue and net profit surged 14.4% and 38.3% year-on-year to RM139.0 million and RM14.0 million respectively. 2017 has so far been a great year for us as well. In the short span of eight months since listing, we have successfully clinched a total of RM103 million worth of projects, with the most recent one being the RM17.9 million contract win from MyHSR Corporation (“MyHSR”) for the Kuala
2 Lumpur-Singapore High Speed Rail (“HSR”) project. The package that we were awarded is one of the largest by geographical distance. Furthermore, out of the six packages available under this Civil Reference Design (“CRD”) stage, we are one of the only two local firms appointed as a CRD consultant, with the remaining three being international firms. This reflects our strong engineering and technical capabilities, which are on par with the international players.” “On another note, HEB Group was also involved in the East Coast Rail Line (“ECRL”), having completed the feasibility studies and schematic design for the project. Based on our experience, track record and prior involvement, we believe we stand a good chance to undertake further role in the project. All in, we have a tender book of approximately RM300 million. Historically, our Group has had a fairly good tender success rate and thus, we hope to announce more good news soon.” “As one of the leading engineering consultancy firms in Malaysia, we have in the past been involved in various major infrastructure projects such as the Maju Expressway, LRT- Ampang line extension, Penang Bridge widening, SKVE expressway, and many more. Looking ahead, the Construction Industry Development Board (“CIDB”) estimates the construction sector to grow 8% in 2017, boosted by numerous mega infrastructure projects in the country. Against this robust backdrop, we foresee the Group’s outlook to be promising as it is well positioned to secure more contracts in the near future. It is our endeavour to maintain our earnings growth momentum in the foreseeable future.” Dato’ Sri Kuna added. As at December 2016, HEB Group has an order book of RM378.4 million. Selected key projects currently undertaken by the Group include the MRT line 1 & 2, Kwasa Damansara Township Development, Lebuhraya Putrajaya-KLIA (MEX II), Suke Highway and West Coast Expressway, to name just a few. The
3 Group shall continue to actively tender for new projects to replenish and grow its order book. It looks forward to a stronger performance for the financial year ending 31 December 2017 (“FY17”). On the corporate front, HEB had on 4 April 2017, announced on the proposed transfer of its listing status to the Main Market of Bursa Malaysia Securities Berhad, subject to regulatory approvals. Barring unforeseen circumstances, the exercise is expected to be completed in the second half of 2017.
no call u buy oh....just information only..... will move o main board on second half 2017,and u will know this current price u never can get any more... hahaha
why despite so many good news it just yoyo up to 1.02 and down to 0.88 every time. Haiyah.... luckily sell half at 1.00. Now wait to pick up at 0.89 again
The two local cos are Ranhill Engineers and Hss; Hss get longer routes. They must ensure local participation for knowledges and technology transfers. Will add on to already impressive Hss profile.
People think HSR project will only going for tender in 4Q2017....infact the co as it now already bid for tender projects amounted to RM300M domestic jobs and another RM150M for oversea jobs.
That not included HSR and ECRL project. Engineering co. will have roles in various stages including early stages of planning and preparing for tender i.e. study, specifications etc. So expect they will be given an early jobs before any one else.
In AGM....ED said historically, our Group has had a fairly good tender success rate and thus, we hope to announce more good news soon.”
The co has long relationship with Prasana, MRT, Government, Peneraju etc...will have good chance to win more projects.
Personally I think if Election in September, they will speed up the awards before election.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
RMSB
258 posts
Posted by RMSB > 2017-04-27 14:58 | Report Abuse
Now starting to fall........ Dropped 2sen already.