KUALA LUMPUR, 30 MAY 2022 – Lim Seong Hai Capital Berhad (“LSH Capital” or the “Company” or “Group”) had on 24 May 2022 released its unaudited financial statements for the 1st half-year ended 31 March 2022. The Group reported revenue of RM65.43 million for the financial period ended (“FPE”) 31 March 2022 which represents an increase of RM23.82
million or 57.25% compared to RM41.61 million for FPE 31 March 2021. The increase is mainly supported by the consolidation of LSH BEST Builders Sdn Bhd, which was acquired in October 2021. The profit after tax of the Group had also increased by 123.7% or equivalent to RM6.88 million to RM12.44 million for the FPE 31 March 2022 from RM5.56 million in FPE 31 March 2021.
The Group had also announced an interim single-tier dividend of 1.05 sen per ordinary share amounting to approximately RM3.73 million in respect of the financial year ending 30 September 2022 at the entitlement date 13 June 2022 and the payment date at 28 June 2022.
Speaking after the Board meeting to approve the unaudited financial statement, Tan Sri Datuk Seri Lim Keng Cheng said “We are delighted with the results and it proves the capability of the Group in delivering results to our customers, clients and to all stakeholders. With the vision that we have to transform the LSH Capital Group into a well-known household name in the construction industry, we are on the right track to achieve this ambition”.
The Group had recently announced a series of corporate proposals that will expand the reach of the Group into property and construction related activities. The forward integration into the property and construction related businesses is done to further enhance and support the existing business of Lim Seong Hai Lighting Sdn Bhd (“LSH Lighting”) and Knight Auto Sdn Bhd (“Knight Auto”) as it will provide secured volume requirements for projects undertaken by the enlarged LSH Capital Group. This is expected to provide operating efficiencies and also mitigate some of the collection risk as compared to supplying to third parties.
Notwithstanding the diversification into property and construction related business, LSH Capital Group is intends to continue with its’s current business in the same manner, i.e. distribution and/or retail of building materials, lighting products and related M&E products and services which is carried out by LSH Lighting, and wholesale and retail of hardware and tools, and rental of machinery which is carried out by Knight Auto. The property and construction related businesses will be the catalyst of growth for LSH Capital Group moving forward.
“Barring any unforeseen circumstances and the smooth transition to the endemic phase of Covid 19, 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.
