Hup Seng ... Nov09

It was setting a dividend policy and splitting its stock.

It was adopting a dividend policy that would see it distribute annually a minimum 60% of its annual net profit as dividend starting from its financial year ended Dec 31, 2009.

The company also proposed a share split where the par value of every RM1 share would be divided into two shares of 50 sen each.

Hup Seng register a net profit of RM4.96mil for its third quarter ended Sept 30 compared with RM3.55mil in the previous corresponding period.

Pre-tax profit rose to RM6.33mil from RM4.91mil for the respective periods mainly due to the lower material input cost and the improved contribution from costs recovery exercise within the group.

Revenue declined to RM49.34mil from RM52.84mil previously but earnings per share advanced to 8.28 sen from 5.93 sen previously.