September 01, 2014 4:35 AM ET

Commercial Services and Supplies

Company Overview of Hiap Huat Holdings Berhad

Company Overview

Hiap Huat Holdings Berhad, an investment holding company, engages in manufacturing, recycling, and refining various petroleum based products in Malaysia. The company offers wastes oil and solvent collection services and recycling services; and used drums collection services and recycling services. Its products include calcium grease comprising heavy grease, cup grease, and chassis grease; paints, such as emulsion paints, oxide primer, white undercoat, gloss paint, and wood preservatives; lubricating oils consisting of hydraulic oil, engine oil, and gear oil; recycle solvents, such as recycle thinner, IPA, and toluene; and other related products. The company is also involved in the distributi...

No. 46, Jalan E 1/2

Taman Ehsan Industrial Park

Kepong,  52100

Malaysia

Founded in 1985

Phone:

60 3 6274 2460

Fax:

60 3 6272 2584

Key Executives for Hiap Huat Holdings Berhad

Hiap Huat Holdings Berhad does not have any Key Executives recorded.

Hiap Huat Holdings Berhad Key Developments

Hiap Huat Holdings Berhad Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Hiap Huat Holdings Berhad reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of MYR 10,359,000 compared to MYR 10,592,000 a year ago. Loss before tax was MYR 478,000 compared to profit before tax of MYR 1,033,000 a year ago. Loss attributable to ordinary equity holders of the parent was MYR 523,000 or 0.16 per share compared to profit attributable to ordinary equity holders of the parent of SGD 786,000 or MYR 0.24 per basic share a year ago. For the six months, the company reported revenue of MYR 18,793,000 compared to MYR 20,183,000 a year ago. Loss before tax was MYR 171,000 compared to profit before tax of MYR 1,969,000 a year ago. Loss attributable to ordinary equity holders of the parent was MYR 298,000 or 0.09 per share compared to profit attributable to ordinary equity holders of the parent of SGD 1,477,000 or MYR 0.44 per basic share a year ago. The decrease in revenue was mainly due to the decrease in revenue generated from the sales of lubricant, paint and solvent products as well as schedule waste collection. Nevertheless, this is offset by the stronger sales of recycled fuel oil products from existing customers.

Hiap Huat Holdings Berhad, Annual General Meeting, Jun 26, 2014

Hiap Huat Holdings Berhad, Annual General Meeting, Jun 26, 2014., at 07:30 Indian Standard Time. Location: Room Green II, Tropicana Golf & Country Resort. Agenda: To receive the audited financial statements for the financial year ended 31 December 2013 together with the reports of the directors and auditors thereon; to approve the payment of Directors' fees to non-executive directors of the company for the financial year ended 31 December 2013; to re-elect the Directors retiring pursuant to the company's articles of association; to re-appoint Messrs. UHY as auditors of the company and to authorise the Directors to fix their remuneration; to consider authority to Directors to allot and issue shares; and to consider other things.

Hiap Huat Holdings Berhad Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Hiap Huat Holdings Berhad announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced revenue of MYR 8,434,000 compared to MYR 9,591,000 for the same period a year ago. Profit before taxation was MYR 307,000 compared to MYR 936,000 for the same period a year ago. Net profit for the financial period, representing total comprehensive income for the financial period was MYR 225,000 compared to MYR 691,000 for the same period a year ago. Earnings per share attributable to the equity holders of the company were 0.07 sen compared to 0.21 sen for the same period a year ago. Net cash used in operating activities was MYR 1,238,000 compared to net cash generated from operating activities of MYR 5,167,000 for the same period a year ago. Purchase of property, plant and equipment was MYR 2,317,000 compared to MYR 12,437,000 for the same period a year ago. The decrease in revenue was mainly due to the decline in demand for recycled fuel oil products from the company’s existing customer who is operating in the road paving sector. Decrease in profit before tax was mainly due to the increase in depreciation expenses by MYR 0.45 million in the current quarter, resulting from the commissioning of the company’s new Pulau Indah Plant.

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