ENGINEERING and project management consultancy HSS Engineers Bhd (HEB Group) has proposed a final single-tier dividend of 1.46 sen per share for the financial year ended Dec 31, 2024 (FY2024), up from 1.21 sen paid in the previous year.

The proposed payout amounts to RM7.4 million, or approximately 30% of its FY2024 profit after tax (PAT), in line with the group’s dividend policy.

The improved dividend comes on the back of a strong financial performance, with net profit rising 23% year-on-year to a record RM25.2 million, driven by expanding international contracts and deeper exposure to emerging sectors.

“The historic net profit reflects the strength of our adept engineering services, deployed to transformational projects across various industries and countries,” said its executive vice chairman Tan Sri Ir. Kuna Sittampalam in a statement today.

Looking ahead, Kuna said HSS aims to sustain earnings momentum by expanding its footprint in transportation and water-related projects, while ramping up its presence in emerging fields such as data centres, AI-powered drone solutions and renewable energy.

“As developing nations invest robustly in infrastructure to boost competitiveness, we remain resolute in pursuing our global expansion strategy. Considering our agility and exceptional track record, we are primed not only for a greater role in overseas markets but also for an even stronger financial footing,” he added.

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As of end-2024, HSS Engineers’ order book stood at RM2.1 billion — the largest in its history — which will be billed progressively over the next eight years.

New contract wins last year totaled more than RM900 million, including notable projects such as the Westport 2 Expansion Development Phase 1, two new data centres in Johor, Cambodia’s Phnom Penh-Bavet Highway, and its largest-ever job, the Baghdad Metro project in Iraq.

The group is also bidding for projects worth RM504 million, spanning highways, rail, ports, water infrastructure, data centres, and renewable energy. — TMR