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Hong Leong Asia reports 36% drop in 3Q earnings to $2.8 mil

PC Lee
PC Lee11/14/2018 06:11 PM GMT+08  • 2 min read
Hong Leong Asia reports 36% drop in 3Q earnings to $2.8 mil
SINGAPORE (Nov 14): Hong Leong Asia reported a 35.7% drop in 3Q18 earnings to $2.8 million from a restated $4.4 million a year ago after the de-consolidation of the group’s consumer products unit Xinfei.
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SINGAPORE (Nov 14): Hong Leong Asia reported a 35.7% drop in 3Q18 earnings to $2.8 million from a restated $4.4 million a year ago after the de-consolidation of the group’s consumer products unit Xinfei.

3Q18 revenue fell 14.8% to $756 million mainly due to lower revenue recorded by diesel engines unit Yuchai, partially offset by higher revenue recorded by the building materials unit (BMU).

The other business units in Hong Leong Asia are the industrial packaging unit (Rex) and the air-conditioning systems unit (Airwell).

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