Ng likes the prospects seen in Hong Leong Asia’s two main business segments: its powertrain solutions division, China Yuchai International, and its building materials business.
Beansprout analyst Ng Hui Min has initiated a “buy” call on Hong Leong Asia after the group posted a “strong rebound” in its 1HFY2025 earnings.
For the six months ended June 30, Hong Leong Asia reported earnings of $56.01 million, 13.1% higher y-o-y, marking a “clear turnaround”. Revenue for the period rose by 25.7% y-o-y to $2.83 billion. Net profit after tax grew by 30.9% y-o-y to $121.2 million. The group’s interim dividend was doubled to 2 cents per share.
