July 25, 2014 11:02 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, 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.

Hiap Huat Holdings Berhad Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

Hiap Huat Holdings Berhad announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenue MYR 12,447,000 against MYR 11,054,000 a year ago. Profit before taxation was MYR 592,000 against loss before taxation of MYR 1,461,000 a year ago. Total comprehensive income attributable to equity owners of the company was MYR 582,000 against total comprehensive loss attributable to equity owners of the company of MYR 1,875,000 a year ago. Earnings per share attributable to the equity holders of the company were 0.17 sen against loss per share attributable to equity holders of the company of 0.65 sen a year ago. For the year, the company reported revenue MYR 42,578,000 against MYR 39,209,000 a year ago. Profit before taxation was MYR 2,827,000 against MYR 4,840,000 a year ago. Total comprehensive income attributable to equity owners of the company was MYR 2,530,000 against MYR 2,968,000 a year ago. Earnings per share attributable to the equity holders of the company were 0.76 sen against 1.151 sen a year ago. Net cash from operating activities was MYR 5,270,000 against MYR 1,191,000 a year ago. Purchase of property, plant and equipment was MYR 18,668,000 against MYR 2,991,000 a year ago.

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