• Ho Hup Construction Company’s (Ho Hup) FY16 earnings declined year-on-year, dragged down by a 52.5 percent drop in 4Q16 net profit to RM9.2 million.
  • Meanwhile, revenue slid by 48 percent to RM44.7 million.
  • The contraction in 4Q16 net profit was mainly due to higher operating cost incurred from interest subsidy for purchasers as well as facility fees for loans undertaken during the period.
  • Full-year earnings declined 7.2 percent to RM65.9 million.

Significance: Ho Hup is optimistic on FY17’s outlook as its construction division has actively tendered for RM3.3 billion worth of projects while its property development division plans to launch projects with a combined gross development value of RM1.7 billion.

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