KUALA LUMPUR, Feb 24 — Hap Seng Consolidated Bhd’s net profit jumped to RM900.43 million in the financial year ended December 31, 2021 from RM750.18 million in the same period a year earlier.For the fourth quarter, Hap Seng recorded a net profit of RM300.53 million compared to RM351.99 million a year earlier, mainly due to a reversal of certain deferred tax assets, while revenue went up to RM1.84 billion from RM1.
“However, the increased was negated by lower revenue from the property, credit financing and automotive divisions,” it said in a filing with Bursa Malaysia today. Moving forward, Hap Seng said the group was cautiously optimistic of achieving satisfactory results for the financial year ending December 31, 2022 despite the challenging business environment and uncertainties in the domestic and global economies caused by the prolonged Covid-19 pandemic. — Bernama
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