Hiap Teck eyes stronger earnings growth
According to the group’s executive director Foo Kok Siew (pic), aside from the stronger revenue contribution through exports, the turnaround of Eastern Steel will be substantial in boosting Hiap Teck’s financial performance.
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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