The Borneo Post

Lim Seong Hai Capital releases first audited financial statement post listing


KUCHING: Lim Seong Hai Capital Bhd (LSH Capital) released its first audited financial statement for the period ended September 30, 2021 (FP21), recording a revenue of RM67.42 million for the financial period which represents an increase of RM19.29 million or 40.09 per cent compared to RM48.12 million for FP20.

The increase in the revenue is mainly contribute­d by the increase of revenue from rental of machinery and distributi­on of building materials of RM10.02 million and RM7.95 million respective­ly for FP21 as compared to FP20.

The profit after tax of the

Group had also increased by 91.79 per cent or equivalent to RM3.80 million to RM7.93 million for FP21 from RM4.13 million in FP20.

The group had earlier announced a final single tier dividend of 0.66 sen per ordinary share amounting to approximat­ely RM2.34 million in respect of the current financial period (at the entitlemen­t date to be determined and announced at a later date) will be proposed for shareholde­rs’ approval at the forthcomin­g First Annual General Meeting of the Company to be convened on a date to be announced later.

Speaking after the board meeting to approve the audited

financial statement, Tan Sri Datuk Seri Lim Keng Cheng said: “We are optimistic of the long-term prospects of the constructi­on related products and services industry in Malaysia which are expected to progressiv­ely recover in 2021 and the following years in light of the economic stimuli and easing measures provided by the Government of Malaysia as well as on-going and upcoming constructi­on projects.

“Our continued success in securing orders from high-profile projects throughout Malaysia in the past is evidence of our ability to remain resilient and adaptive to challengin­g market conditions.

“Further, our ability to cater for constructi­on projects across a broad spectrum of constructi­on sub-sectors presents us with a large pool of opportunit­ies into the various constructi­on subsectors.” The completion of the acquisitio­n of LSH BEST Builders Sdn Bhd (LSHBB) on October 15, 2021 is also expected to augur well for the group as it is in line with the BEST Framework adopted by the Group with the aims to transform the core foundation of the constructi­on industry.

The acquisitio­n of LSHBB allows the group to streamline and expands its technical expertise and capabiliti­es in the constructi­on industry. The integratio­n of the constructi­on segment onto the existing businesses will allow the group to gain control of the value chain in the constructi­on projects secured by LSHBB for easy coordinati­ng in executing the projects in line with the BEST Framework.

Further, the acquisitio­n will create synergy and competitiv­e advantage to the group and enable the provision of valueadded services to clients under the BEST Framework in the constructi­on industry in the future.

“Barring any unforeseen circumstan­ces and the high vaccinatio­n rate achieved in Malaysia, the board is confident that the prospects of the group’s financial performanc­e for the financial year ending 30 September 2022 will remain favourable,” he elaborated.

 ?? ?? Tan Sri Datuk Seri Lim Keng Cheng
Tan Sri Datuk Seri Lim Keng Cheng

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