HSS Engineers tenders for RM442mil of projects, post 3Q net profit of RM5.17mil

KUALA LUMPUR: HSS Engineers Bhd is tendering for RM442mil worth of projects across multiple sectors including highways, public transport, ports and water infrastructure.

Among other venues, the group will be looking towards the government’s RM11.8bil allocation for flood mitigation projects as it seeks to boost its order book, which stood at RM1.5bil as at Sept 30, 2023.

“Given our strong track record in flood mitigation, HEB is uniquely positioned to help minimise the disruption caused by flooding,” said executive vice chairman Tan Sri Kuna Sittampalam in a statement.

He added that the group is optimistic that the implementation of mage infrastructure projects in Malaysia as well as the award of new contracts will accelerated in the coming years.

The group also remains on course in its regional expansion, through strategic collaborations with leading Japanese consultants to participate in Japan International Cooperation Agency funded projects in Indonesia, the Philippines, and India, he said.

In the third quarter ended Sept 30, 2023, HSS Engineers posted a net profit of RM5.17mil, which was slightly higher than RM5.01mil in the same quarter in 2022, bringing earnings per share share to 1.04 sen from 1.01 sen previously.

The group’s revenue was RM47.38mil, up from RM40.37mil.

it said the softer increase in net profit in 3Q23 relative to increase in revenue for the period was mainly attributed to a better sales mix and significantly higher operating income in the preceding quarter.

The group said Phase 1 of the Pan Borneo Highway-Sabah segment and the Project Delivery Management Office in the Northern Corridor Economic Region progressed well and continued to contribute significantly to supervision revenue for the current quarter.

For the nine-month period to Sept 30, 2023, HSS Engineers recorded a net profit of RM14.7mil compared to RM11.45mil in 3QFY22 while revenue rose to RM142.09mil from RM114.66mil previously.