Hock Seng Lee records 21% revenue increase for FY2009

KUALA LUMPUR: Hock Seng Lee Bhd (HSL Group) posted a 21% increase in revenue for FY2009, compared with RM309.07 million in the previous financial year. The group’s net profit before tax for FY2009 was RM75.57 million, or a 35% increase from RM54.46 million in FY2008.

In its statement to Bursa Malaysia on Feb 25, larger projects and enhanced efficiency in project delivery, cost controls and technical skills contributed to the financial results. HSL Group is a Sarawak-based marine and civil engineering, building construction and property development company.

The group is looking to enjoy ongoing opportunities arising from Sarawak Corridor of Renewable Energy developments, including the initiative to open the interiors with a vigorous road-building programme.

Under its wholly-owned subsidiary, Hock Seng Lee Construction Sdn Bhd, its boutique gated-and-guarded project called “the Leaf”, which was launched last November, is over 90% sold. Its 200-acre high-end gated community called La Promenade is planned for launch at end-2010.