[HOCK SENG LEE BHD，忙于执行工作]

本季度收入为1.3176亿令吉，较去年同期相应季度的9,492万令吉增加39％（根据采用的新会计政策重算前一年的数字）。本季度福胜利除税前净利润为1,854万令吉，较去年同期的1,491万令吉（经重算）增加24％。

施工部门：截至二零一八年三月三十一日止三个月期间，收入及除税前纯利为1.1431亿令吉及1324万令吉，比较去年同期为8080万令吉（经重算）及1080万（分别重算）。本季度的收入较去年同期增长了41％，而税前利润增长了22％。这主要是由于本季度进行的较多建设活动所致。

物业发展部门：截至二零一八年三月三十一日止三个月期间，收入及除税前纯利为1,745万令吉及RM530万令吉，相比去年同期的数字为1,412万令吉（经重算）及RM411万（分别重算）。本季度的收入与去年同期相比增长了24％，而税前利润增长了29％。由于对销售的认可，利润率保持稳定，本季度收入增加。

前景：
凭借30亿令吉的订单和约25亿令吉的未记账，福胜利将忙于执行工作。自2017年第四季度以来，建筑活动增加，收入增加。预计这一趋势将持续。利润率也在恢复。鉴于目前联邦政府重申，良好的基础设施对经济发展至关重要，并表示将为沙巴和砂拉越部署多达30％的国家发展预算拨款，福胜利感到乐观。这对福胜利的合约机会预示良好。项目采购将根据他们审慎的项目管理策略进行，并适当考虑福胜利的能力。福胜利预计，物业发展部门将提供多种产品，将对福胜利2018年及以后的业务产生更大影响。

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James Ng

Revenue for the quarter under review is RM131.76 million, an increase of 39% as compared to the preceding year corresponding quarter’s figure of RM94.92 million (after restatement of preceding year’s figure in line with new accounting policies adopted). The net profit before tax of the Group for the current quarter is RM18.54 million, an increase of 24% as compared to RM14.91 million (as restated) for the preceding year’s corresponding quarter.

Construction segment: For the 3-month period ended 31 March 2018, the revenue and net profit before tax are RM114.31 million and RM13.24 million compared to the previous year’s corresponding quarter figures of RM80.80 million (as restated) and RM10.80 million (as restated) respectively. The revenue for the current quarter has improved by 41% as compared to the previous year’s corresponding quarter while profit before tax has increased by 22%. This was mainly due to higher construction activities carried out during the quarter.

Property development segment: For the 3-month period ended 31 March 2018, the revenue and net profit before tax are RM17.45 million and RM5.30 million compared to the previous year’s corresponding quarter figures of RM14.12 million (as restated) and RM4.11 million (as restated) respectively. The revenue for the current quarter has increased by 24% as compared to the previous year’s corresponding quarter while profit before tax has increased by 29%. Higher revenue was recorded during the current quarter due to recognition of sales while profit margins remained stable.

Prospects:
With a record order book of RM3 billion and some RM2.5 billion of this unbilled, the Group will be busy on work execution. There has been an increase in construction activities which has translated into higher revenue since the Fourth Quarter of 2017. This trend is expected to continue. Margins are also recovering. The Group is optimistic given the reiteration of the present Federal Government that good infrastructure is key to economic development and its indication that as much as 30% of the national budget allocation for development is to be deployed for Sabah and Sarawak. This augurs well for contract opportunities for the Group. Project procurement will be undertaken in line with their prudent project management strategies, taking due consideration of the capacity and capabilities of the Group. HSL foresees the property development segment, with a variety of products on offer, will make a greater impact on the business of HSL Group in 2018 and beyond.

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James Ng