Posted by Dolly_Chai > 2016-12-06 11:05 | Report Abuse

looks like revenue recognition for big projects (PAN Borneo & Waste water management) has started in Q3 and will further improve in subsequent quarters.... buy now and wait for the fruits to ripen.. ^^

Posted by athlon64 > 2016-12-06 14:24 | Report Abuse

how come keep on dropping to lower n lower price

Posted by leek > 2016-12-06 16:52 | Report Abuse

All in...

Posted by Dolly_Chai > 2016-12-07 13:48 | Report Abuse

Current Year Prospects
While the Group is now kept busy with project execution having successfully secured 2 major projects towards
the end of first quarter 2016, we will continue to bid for projects that are related to our core business in
infrastructure related works. The Sarawak Corridor of Renewable Energy (SCORE) initiative as well as the forces
of industralisation and urbanization provides further contract opportunities for HSL in the key SCORE growth
node towns of Tanjung Manis, Mukah and Samalaju and the major cities of Sarawak. HSL foresees the property
development segment with a variety of products will make greater impact on the business of HSL Group and is
preparing for new launches in 2016 and beyond.

Posted by Dolly_Chai > 2016-12-07 13:49 | Report Abuse

KUCHING (Thursday)  Sarawak-based marine engineering and infrastructure specialist Hock Seng Lee
Berhad (HSL) has achieved sound progress across its sizeable project order book for the nine months up to
30 September 2016.
The company announced today that third quarter results for the three-month reporting period ended 30
September 2016 put pre-tax profit at RM21.82 million on the back of revenue at RM136.03 million.
For the nine-month period ended 30 September 2016, cumulative figures recorded pre-tax profit at
RM59.49 million from revenue of RM385.34 million.
“Our teams are to be commended for maintaining our continuous profitability, ensuring earnings are
generated from a diversity of contracts across the state to counter the outgoings required to get major
new projects off the ground,” said Dato Paul Yu Chee Hoe, HSL’s Managing Director.
“We have completed several contracts recently including road works for Tanjung Manis Halal Hub and we
are steadily working through the early planning and preparation stages of our mega-projects.
“Physical work has begun on the section of the Pan-Borneo Highway we are undertaking, while the second
package of Kuching’s Centralised Wastewater Management System is in the preliminary analysis and
investigative stage”, said Dato Paul Yu.
“Higher operating costs and the minimal recognition of earnings streams from the significant projects
secured in the first half of 2016, have slightly impacted on the strong margins and growth rates enjoyed in
recent years.
“However, we are picking up pace with both revenue and earnings improving this quarter compared to the
immediate preceding (second) quarter of 2016,” he added.
“We will be looking at substantial progress claims in the coming year, but at the current reporting period
we are not quite up where we were in 2015,” he noted.
For the third quarter of 2015, net profit before tax stood at RM23.66 million on the back of revenue of
RM158.44 million while the profit before tax for the nine months up to 30 September 2015 stood RM72.82
million from revenue of RM494.50 million.
On the upside, HSL is enjoying record orders. As at 30 September 2016, the Group had RM2.6 billion
worth of projects in hand of which RM2.2 billion was still outstanding.

“This is RM1 billion more than we had on the books at the same time last year,” said Dato Paul Yu.
As at 30 September 2015, the Group had RM1.6 billion worth of works in hand of which RM770 million
remained unbilled.
“At this juncture last year, we had expressed optimism that our technical capabilities in marine works,
road building and infrastructure would stand us in good stead to procure major projects on the
government development agenda and that has been borne out in the substantial growth of our order book
since then,” Dato Paul Yu added.
The Group secured new works worth some RM1.9 billion in the first nine months of 2016.
Meanwhile, HSL’s property sector, under wholly-owned subsidiary Hock Seng Lee Construction Sdn Bhd,
will open a new Hollywood Regency themed show home this weekend. The opening of the 2800 sq ft
duplex villa will be in conjunction with the release of the second phase of guarded and gated homes at
“Precinct Premiere”, part of its landmark 200-acre La Promenade mixed development project near
Kuching.
Launches for new residential products at other top-selling estates including Highfields at Batu Kawa and
Samariang Aman 2, both in Kuching, are also expected within the next few months, while sales of Vista
Industrial Park (VIP) industrial lots near Kuching have continued to be strong.
With various residential, commercial and industrial lots projects ongoing and in the pipeline, the property
sector is slated for further growth and an increasing contribution to Group revenue.
Looking ahead, HSL will remain occupied by its large order book and strive to be in a position to submit
more significant progress claims on its new mega-projects.
“We will still seek out additional works which suit our skill set with opportunities expected to be driven by
the urbanization pressure on our cities and the industrial development of the Sarawak Corridor of
Renewable Energy (SCORE),” said Dato Paul Yu.

Posted by HowAh > 2016-12-18 22:10 | Report Abuse

Eh Sai bui bo?

Posted by Dolly_Chai > 2016-12-29 10:06 | Report Abuse

guys, u can consider buying in for upcoming good results.. which is quite firm

Posted by Dolly_Chai > 2016-12-29 10:07 | Report Abuse

read my sharing above...

Posted by Dolly_Chai > 2017-01-05 11:19 | Report Abuse

some nay-sayer will be surprised by HSL upcoming quarterly results (from the 2 mega projects) and thumped his heart for not buying it right... haha

Posted by Dolly_Chai > 2017-01-05 11:20 | Report Abuse

HSL has been making consistently good profit every year (never once made a loss in any quarter) and in net cash position (zero debt).. free cash flow is healthy too... the next stimulus is the earning growth from these mega projects... so i am in for it...

Posted by untunguntung88 > 2017-01-06 10:00 | Report Abuse

Dolly_Chai, I totally agree with you

Posted by quest > 2017-01-11 09:45 | Report Abuse

When is the next QR coming out?

Posted by Dolly_Chai > 2017-01-18 12:35 | Report Abuse

rockycleft, u r another cxck-talking idiot i have seen.. pls talk fact, not cxck...
we are all discussing about facts

Posted by Dolly_Chai > 2017-01-18 12:35 | Report Abuse

untunguntung88, yes, we just ignore cxck-talking ppl like rockycleft...

Posted by untunguntung88 > 2017-01-18 13:29 | Report Abuse

Totally agree with Dolly_Chai again

Posted by untunguntung88 > 2017-01-18 13:31 | Report Abuse

quest, the next QR should be avail. in Feb. '17.

Posted by hokki > 2017-01-19 12:28 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/12/31/business-as-usual-at-hsl-despite-family-feud/

and now this
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5314625

Posted by Dolly_Chai > 2017-01-19 12:54 | Report Abuse

no big deal for court case...

read this:

“In terms of financial performance, the group has been recording steady growth with good earnings, and does not show any signs of slowing down.

“The group has a solid track record and the family feud is unlikely to shake investors’ confidence in the sound management of the company,” a source says.

HSL, through its joint venture with Dhaya Maju Infrastructure (Asia) Sdn Bhd, procured Pan Borneo Highway packages of Bintangor junction to Julau junction and Sibu Airport to Sungau Kua bridge, measuring 75.97km and valued at RM1.71bil.

As of June 30 this year, the group has a total project value of RM2.6bil, which also happens to be its all-time high.

HSL added 13 new projects worth an estimated RM1.85bil in the first half of 2016.

This includes three infrastructure contracts in Samalaju, a growth node town of Sarawak Corridor of Renewable Energy (Score).

Posted by Dolly_Chai > 2017-01-24 10:13 | Report Abuse

rocky doesnt talk rock, he talks cock...

Posted by Dolly_Chai > 2017-01-24 13:24 | Report Abuse

u r welcome.. yes, i am fully aware of that too... TQ

Posted by Dolly_Chai > 2017-01-26 10:06 | Report Abuse

haha... very funny

Posted by starperformer > 2017-01-26 11:02 | Report Abuse

Aiyoooo! Why Dolly buy this one leh? 1.63 is way over it's NTA 1.264 mah. LOL

WOW why family members fight until go court case leh? Habis loh HSL. These sarawakians don't play-play one

Posted by Dolly_Chai > 2017-02-03 12:58 | Report Abuse

idixt sxckperformer is super childish to track my comments... how pathetic... come on la idixt, i dun buy a share simply based on its NTA valuation ok? I look at other criteria too... dun simply think i am as dumb as you, ok?

even if u look at NTA, its P/BV is only 1.28 which is well below 1.5, and considered as undervalued (if you look at this P/BV valuation alone)...

Posted by starperformer > 2017-02-03 16:53 | Report Abuse

Idiot dolly changed his stance every time feeling vulnerable & feel like to take a reverse gear. Just read ur own past comments & public can know lah. U don't have to act like idiot because u are already an idiot.

Posted by Dolly_Chai > 2017-02-06 09:21 | Report Abuse

haha.. when idiot (starperformer) meets another idiot (rockycleft) and this is what happens... classic

Posted by starperformer > 2017-02-06 12:08 | Report Abuse

Dolly is obsessed to have ppl refer him as expert but the fact is he's asspert/arsepert. It's easier to shout when share price up but remain quiet when down. Typical loser attitude detected. Ha ha!!

Posted by Xinquan > 2017-02-16 10:34 | Report Abuse

Dolly what a bless for you to have rockycleft a partner for you here. He must be helping you to make money. Lots of it?

Posted by Dolly_Chai2 > 2017-02-16 12:39 | Report Abuse

Xinquan, how would he help me make money?

Posted by Dolly_Chai2 > 2017-02-16 12:43 | Report Abuse

but i did make good money in HSL since I started investing in it at low price... the price is yet to be fully reflected now... more to come...

Posted by Xinquan > 2017-02-21 21:17 | Report Abuse

The more rockycleft talk the higher HSL goes up?

Posted by RichieNexus > 2017-02-23 14:45 | Report Abuse

When can HSL go above RM 2.00 again?

Posted by RichieNexus > 2017-02-23 15:08 | Report Abuse

Likely going to U-Turn to make a Higher High soon.

Posted by RichieNexus > 2017-02-24 14:52 | Report Abuse

PublicInvest TP = 1.80, another 11 sen to go ie 6.5% gain if you pick up now at 1.69, not bad...

Posted by RichieNexus > 2017-03-02 13:24 | Report Abuse

What happened to this stocks?? Most of the stocks are moving up but this one is still sleeping!

Posted by RichieNexus > 2017-03-03 10:55 | Report Abuse

When KLCI down more than 10 pts, it still sleeping. Why? Something good or bad?

Posted by hng33 > 2017-03-03 16:11 | Report Abuse

sold off all HSL at 1.73, lock slim paper profit, free up all capital

Posted by jenngu > 2017-03-03 18:56 | Report Abuse

Company Announcements

The Board of Directors of Hock Seng Lee Berhad (“HSL”) is pleased to announce that HSL has on 3 March 2017 received the Letter of Acceptance from Jabatan Perkhidmatan Pembentungan Sarawak for the wastewater treatment plant and sewer networks project in Miri, known as “Loji Rawatan Kumbahan Serantau Dan Rangkaian Paip Pembetungan Miri (Fasa 1) : Pakej A – Rangkaian Paip Pembetungan” (“the Project”) worth Ringgit Malaysia Three Hundred Thirty Three Million Seventy Three Thousand One Hundred and Forty Two and Sen Seventy Six Only (RM333,073,142.76), through open tender exercise.

The scope of works for HSL includes earthworks, construction and commissioning of the wastewater treatment plant, sewer networks, intermediate pump station including associated works and property connections.

The contract period for the Project is forty-eight (48) months commencing 30 March 2017. The Contract is expected to contribute positively to the earnings and net assets of HSL Group as the Project progresses during the contract period. However, the transaction will not have any effect on the share capital and substantial shareholdings of HSL.

None of the directors and/or major shareholders of HSL or persons connected to them have any interest, direct or indirect, in the above contract.

Posted by RichieNexus > 2017-03-06 00:21 | Report Abuse

HSL is coming back! Anything to do with GE14?

Posted by RichieNexus > 2017-03-06 22:14 | Report Abuse

If tomorrow break 1.74 we're looking at 1.80

Posted by RichieNexus > 2017-03-10 15:44 | Report Abuse

What TP are you predicting?

Posted by RichieNexus > 2017-03-10 15:54 | Report Abuse

Should I sell now?

Posted by RichieNexus > 2017-03-15 15:38 | Report Abuse

Keep on winning job contracts but price not going up?

Posted by Why_ > 2017-03-15 23:13 | Report Abuse

Maybe people see rockycleft here also run away?

Posted by rockycleft > Mar 15, 2017 05:49 PM | Report Abuse
No ppl hew that's why....

Posted by Jack Jack > 2017-03-28 10:34 | Report Abuse

Nut Hsl, wait almost 1 year still not movement. Sell all

Posted by ssdn02 > 2017-03-28 12:17 | Report Abuse

wasting time in this counter...

Posted by lollipop > 2017-03-28 12:28 | Report Abuse

less volume =.=

Posted by Dolly_Chai2 > 2017-04-03 09:01 | Report Abuse

eYuppie... patience is the key... the recent mega projects just started and have not contributed significantly to the revenue and net profit... but it is just a matter of time for HSL to recognize this huge revenue and profits... it wont be long... just need slightly more patience..

Posted by jibbie > 2017-04-06 16:00 | Report Abuse

such big order book price still not going up. haih..

Posted by albertwarrior > 2017-04-20 11:07 | Report Abuse

Psiptek at 0.195. Nta at 0.59. Generate profit and non-pn17.

Posted by Dolly_Chai2 > 2017-05-02 15:37 | Report Abuse

INVESTMENT HIGHLIGHTS
Strong reassurance from visit to HSL in Sarawak
Affordable housing and wastewater works will support earnings growth
Reaffirm earnings estimates
Maintain BUY with an adjusted TP of RM2.19
Strong reassurance from visit to HSL in Sarawak. We emerged from HSL’s Kuching Wastewater Treatment and La Promenade visit in Sarawak with reassurance on our revenue, target orderbook and earnings forecasts for FYE17/FYE18/FYE19

Key takeaways from visit:

Compelling underlying sewerage needs. HSL’s key competency in sewerage and wastewater engineering i.e. micro tunnelling and piping will anchor its future earnings prospect due to the strong need of efficient wastewater and sewerage connection in Kuching, Miri and Sibu from growing population. In a revised master plan in 2007, Sarawak Sewerage Department (SSD) has estimated that 3 Wastewater plants are needed to support the population in Kuching. In March 2016, HSL was awarded package 2 of the Kuching Wastewater Treatment Plant amounting to RM750m through its 75% joint venture with Nishimatsu Construction and recently in March, 2017 it clinched another award for Miri Wastewater Treatment Phase 1. Note that SSD has earmarked total of 4 phases of wastewater treatment plant in Miri amounting to RM3.3bn. Thus, we reckon that due to its key expertise in micro tunnelling and sewer piping HSL will stand to benefit. (Refer to Appendices)

Affordable housing will be a levelling factor. Secondly, we observe that affordable housing would be a levelling factor to even out earnings blips from progress billings and project recognition. We notice that HSL’s land banks are strategically located to be developed under the public housings such as Projek Perumahan Rakyat (PPR) and Projek Perumahan Penjawat Awam (PPA1M) such as in Muara Tebas and Muara Tuang. We estimate the comfortable level of GDV for affordable housing projects that HSL could undertake (based on its working capital) is c.RM170m. Last year, the state government has approved a total of 18,787 units of PR1MA houses to be constructed within the next 4 years. We are expecting HSL to take the opportunities in upcoming quarters.

Recommendation. We maintain our BUY recommendation with target price RM2.19 based on DCF method (WACC: 6.7%). We take cognizant that the previous results, HSL did not make the mark. We are convinced that earnings will make a comeback during the 2QFYE17-3QFYE17 as HSL would be able to recognize billings from Pan Borneo project. So far, anaemic earnings have subdued its share price advancement but due to its franchise in microtunneling, sewer piping and waste water engineering in Sarawak, HSL should be revisited.

Source: MIDF Research - 27 Apr 2017