Hap Seng Consolidated Bhd / Lau Cho Kun

Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Sat Feb 04, 2017 10:17 pm

LAU CHO KUN @ LAU YU CHAK
Flagship: Hap Seng Consolidated Bhd
Net worth: RM16bil

LAU moves up one notch in the wealth count boosted by the share price jump of his company Hap Seng Consolidated Bhd.

The Sabah-based tycoon had also exercised over 200 million warrants of the company last year.

In 2016, shares of Hap Seng rose 37% to RM8.86 as the group launched new property projects and kept a lid on operating costs with weakening demand at the diversified group. Its market cap at year-end stood at RM22.01bil.

Starting out in timber, the group has businesses in property, palm oil, automotive and building materials.

Lau is the largest shareholder of Hap Seng with a 73.5% stake by virtue of the family’s stake in Gek Poh Group and Lei Shing Hong Investments.

Its property launches last year included the RM1bil gross development value (GDV) Aria Luxury Residences along Jalan Tun Razak in Kuala Lumpur, and the Balakong residential and commercial development with a GDV of RM900mil.

It also took advantage of the slowdown in the economy to hunt for new assets like tile manufacturer Malaysian Mosaics Sdn Bhd from Gek Poh for RM380mil.

It is looking to beef up its building material business, which is relatively small compared with property and plantation.

Hap Seng indirect listed entities include 53% controlled Hap Seng Plantations Bhd and Paos Holdings Bhd – a soap manufacturer in which it is the second largest shareholder with a 25% stake.

Elsewhere, the group also has interests in Borneo Oil Corp Bhd, whose shares were up last year on the back of a rally in gold prices.

Lau is the nephew of the late Tan Sri Lau Gek Poh, the maverick businessman who founded the group.

Despite the family’s controlling stake, professional managers have been running the operations for many years.

Source: The Star
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Fri Feb 24, 2023 5:04 pm

not vested

Hap Seng Consolidated Bhd’s net profit dropped 67.4% to RM98.02 million in the fourth quarter ended Dec 31, 2022 (4QFY2022), from RM300.53 million a year earlier, due to lower contribution from its plantation and property divisions.

Revenue fell 2.62% to RM1.8 billion from RM1.84 million in 4QFY2021, as the revenue contribution from the plantation, property and credit financing divisions saw a decrease.

Source: The Edge
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Fri Feb 24, 2023 5:14 pm

not vested

Hap Seng’s 4Q profit drops 67% on lower contribution from plantation, property divisions

by Sufi Muhamad

The plantation segment's revenue fell 26% to RM143.55 million from RM194.83 million in 4QFY2021, while the property division saw its contribution decline 75% to RM124.08 million from RM502.14 million. The credit financing division's revenue fell 10% to RM62.83 million from RM69.88 million.

Full-year revenue increased 18.3% to RM7.11 billion from RM6.01 billion, on higher contribution from the plantation, automotive, trading and building materials segments

For the full financial year, Hap Seng’s net profit improved 5.6% to RM950.66 million from RM900.43 million in FY2021 due to a lower tax expense which was attributable to capital gains not subjected to tax.


Source: theedgemarkets.com

https://www.theedgemarkets.com/node/656531
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Fri Feb 24, 2023 5:16 pm

Nov 25, 2022

not vested

Hap Seng Consolidated Bhd's third quarter net profit jumped 47.75% year-on-year to RM563.75 million from RM381.55 million, following the completion of its 100% stake disposal in HS Credit (Birmingham) Ltd in August, from which it gained RM425.1 million.

The 3QFY22 net profit for the three months ended Sept 30 was also achieved on the back of a 20.86% rise in revenue to RM1.97 billion from RM1.63 billion in the previous year's corresponding quarter, driven by stronger contribution from plantation, automotive, trading and building materials divisions.

The diversified group declared a second interim dividend of 20 sen per share, payable on Dec 21.

Source: The Edge
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Wed Mar 22, 2023 9:22 pm

vested

Hap Seng to dispose of HS Credit (Manchester) Ltd for nearly RM840m to largest shareholder Lau Cho Kun

by Kamarul Azhar Azmi

Expected to give rise to a proforma gain of approximately RM558.43 million to Hap Seng for the financial year ended Dec 31, 2021,

The total borrowings of Hap Seng Group as at Dec 31, 2022 were approximately RM7.07 billion. The group intends to utilise part of the proceeds from the proposed disposal to pare down RM650 million of its existing borrowings.


Source: theedgemarkets.com

https://www.theedgemarkets.com/node/660307
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Thu May 25, 2023 10:03 pm

vested

Hap Seng Consolidated slips 67.52% in 1Q earnings, declares 10 sen dividend

By Sufi Muhamad

Hap Seng Consolidated Bhd’s net profit slipped 67.52% to RM50.77 million in the first quarter ended March 31, 2023 (1QFY2023) against RM156.30 million in the same quarter a year earlier (1QFY2022), due to lower revenue reported by its business segments.

Its basic earnings per share fell to 2.04 sen from 6.28 sen, according to its Bursa filing.

Quarterly revenue fell by 3.63% to RM1.59 billion from RM1.65 billion, as its declining revenue came from the plantation, property and trading divisions.



Source: theedgemalaysia.com

https://theedgemalaysia.com/node/668558
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Wed May 31, 2023 5:43 am

Hap Seng Consolidated out of MSCI Emerging Market Index by end-May

By Hailey Chung

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/669186
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Thu Jun 01, 2023 11:18 am

vested

1Q Results:-

Revenue: -3%; RM 1.6b
EPS: -68%; RM 51m
Net Asset Per Share: RM 3.11

https://www.bursamalaysia.com/market_in ... id=3354823
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Thu Jun 01, 2023 11:43 am

vested

March 21, 2023

Investors five-year losses continue as Hap Seng Consolidated Berhad (KLSE:HAPSENG) dips a further 10% this week, earnings continue to decline

Source: Simply Wall St

https://simplywall.st/stocks/my/capital ... nsolidated
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Re: Hap Seng Consolidated Bhd / Lau Cho Kun

Postby winston » Sat Jun 03, 2023 8:11 am

vested

Mercedes-Benz Malaysia to implement agency model – direct sales to consumer, fixed price across all dealers

By Paul Tan

May 13, 2023

What exactly is the agency model and how does it differ from a dealership model?

In Mercedes-Benz’s proposed agency model, the sales contract with the customer will be with Mercedes-Benz and not the dealership. The dealership will only act as an agent and will be paid a fee for their sales service.

In Europe, the dealers will no longer need to keep inventories and prices will be fixed between all dealers. This is a “move away from selling the price to selling the car, which should be the case in the premium market,” according to Ola Kallenius, Mercedes-Benz Group chief executive. How it will work in Malaysia is still being finalised.

In Malaysia, Mercedes-Benz intends to introduce the agency model before the end of 2023 and are currently evaluating the possibilities together with all of our authorized Mercedes-Benz dealers in Malaysia. Further details will be announced in due time.


https://paultan.org/2023/05/13/mercedes ... ommission/
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