Hiap Teck eyes stronger earnings growth
SHAH ALAM: Steel pipe maker Hiap Teck Venture Bhd eyes a stronger bottom line growth in its current financial year of 2019 (FY19), driven by exports of higher margin products and the turnaround of its steel slabproducing joint-venture, Eastern Steel Sdn Bhd.
Fresh from returning to the black in the previous financial year ended July 31, Hiap Teck believes its depressed earnings performance will be a thing of the past.
While a slightly weaker sales volume is expected in FY19 due to the soft demand for steel-related products, this will likely be mitigated by the expected increase in exports of high margin scaffolding products to other countries.
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