The decline in Yuchai’s revenue was due to the lower number of engines sold, as well as a decline in truck and bus unit sales, in addition to lower off-road unit sales. The declines were attributed to the Covid-19-related lockdowns, supply chain disruptions and slower economic growth in China, which led to lower demand for commercial vehicles.
Hong Leong Asia, the listed trading and manufacturing arm of the Hong Leong Group, has announced earnings of $42.6 million for the 1HFY2022 ended June, 4.5% higher y-o-y.
However, revenue for the same period fell by 26.1% y-o-y to $2.10 billion due to the lower revenue recorded by its diesel engines unit Yuchai and partly offset by the higher revenue from the group’s building materials unit (BMU).
