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「亚马逊」云账〖号〗( Seng achieves record profit in FY21


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Hong Seng group managing director Datuk Seri Teoh Hai Hin

KUALA LUMPUR: Hong Seng Consolidated Bhd’s net profit surged to RM35.22mil in the quarter to Sept 30, from RM1.42mil.

Its revenue for the period rose to RM56.45mil against RM530,000 previously.

This was mainly attributed to the supply of reverse transcription-polymerase chain reaction (PCR) test kits for Covid-19 and the provision of Covid-19 related and other molecular laboratory test services to both government and private sectors.

For the 18 months financial period ended Sept 30, Hong Seng posted a net profit of RM46.36mil, or 6.30 sen earnings per share on revenue of RM146.96mil.

The group’s financial year has been changed to Sept 30 from March 30. There will be no comparative financial information available for the financial period ended Sept 30.

Hong Seng group managing director Datuk Seri Teoh Hai Hin said: “Our diversifications over the past year have proven to be timely for the group to capture the rising demand for healthcare products and its related services, so as to gain the greatest market presence for possible advantage from the prevailing health crisis.”

“Moving forward, our other business expansions which include gloves and nitrile butadiene latex (NBL) production are expected to grow concurrently with the healthcare segment to provide multiple streams of income to the group,” he said.

Hong Seng, recently celebrated the groundbreaking of its subsidiary Hong Seng Industries Sdn Bhd’s new NBL plant in Kedah Rubber City.

The approximately RM3bil NBL project which will be completed in stages over 4 phases is targeted to have a full production capacity of 960 kilo-tonnes per annum (KTPA).

The first phase of 240 KTPA is expected to commence its commercial production by second quarter of 2024.

“Gloves manufacturing will start contributing in the next financial year, whereas NBL production will begin no later than Q2, 2024.

“Furthermore, the group’s net cash position of RM152.3mil as at Sept 30is expected to keep us resilient with liquidity buffers in a challenging economic environment while allowing us to seize opportunities that will improve the group’s operations and financial performances in the future,” Teoh said.



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