HSS Engineer Bhd executive vice chairman Tan Sri Ir. Kuna Sittampalam
KUALA LUMPUR: HSS Engineers Bhd
’s (HEB) order book reached an all-time high of RM2.1bil in the second quarter ended June 30, 2024 (2Q24), reflecting its successful expansion and diversified project portfolio in both domestic and international markets.
The engineering and project management consultant said new contracts secured year-to-date, valued at RM850mil, have contributed to this record order book.
“Notably, the landmark Baghdad Metro project in Iraq, secured in June 2024, represents a key addition, with the group to provide project management consultancy (PMC) and supervision services for this project through a joint venture,” HEB said in a statement.
It said the diversified order book, spanning multiple sectors and geographies, will be progressively recognised until 2032, ensuring sustained revenue growth for HEB Group.
Executive vice chairman Tan Sri Ir. Kuna Sittampalam said the group made substantial international gains this year, securing our largest contract win to date with the Baghdad Metro project in Iraq, on top of the Phnom Penh-Bavet Expressway project in Cambodia.
“These wins will significantly boost our financial performance and underscore our growing influence in the global infrastructure space. We remain committed to achieving 25% of our revenue from overseas ventures by 2027.
“Domestically, we also secured notable projects, such as the PMC contract for subsequent phases of the Yellowwood data centre in Johor and the engineering design and supervision contract for water systems upgrade in Pahang. We are optimistic about HEB Group’s prospects in the local market, as we anticipate the implementation of major infrastructure projects to gain momentum in the second half of 2024,” he said.
The group’s net profit dropped 46.5% to RM2.8mil in 2Q24, resulting in a total net profit of RM7.25mil for the first half.
Revenue in 2Q24 dipped 10.3% to RM43.8mil, bringing the total revenue for the first six months to RM91.2mil.
HEB Group maintains a healthy tender book of RM483mil, as it proactively pursues opportunities across various sectors while strategically diversifying its portfolio for additional growth avenues.
