HE Group remains cautious amid volatility, eyes strategic projects

KUALA LUMPUR: HE Group Bhd remains cautiously optimistic amid a volatile global economic environment and is taking a highly selective approach in pursuing new projects, according to managing director Haw Chee Seng.

“This disciplined stance enables us to allocate manpower and financial resources where we can deliver the greatest impact, while ensuring sustainable value creation for our stakeholders,” he said in a statement.

Haw said the strategic focus aligns with Malaysia’s 13th Plan and National Semiconductor Strategy, which is expected to drive investment in semiconductors and data centres, providing opportunities for the company to leverage its capabilities.

In the second quarter ended June 30, 2025 (2Q25), the electrical engineering service provider’s net profit fell 24.8% to RM3.2mil, or 0.72 sen per share, from RM4.2mil, or 0.96 sen per share, in the same quarter last year.

Revenue for the quarter fell to RM32mil versus RM48.9mil a year ago.

For the first six months, it posted a net profit of RM6.05mil, up 6.1% from RM5.7mil, while revenue tumbled 44.1% to RM63.6mil against RM113.7mil posted last year.

As at June 30, HE Group maintains a strong net cash position, with total cash and cash equivalents of RM58.1mil far exceeding total borrowings of RM1mil.