KUALA LUMPUR (Sept 30): Hiap Teck Venture Bhd jumped 12.82% this morning after it reported a net profit of RM29.56 million for its 4Q ended July 31, 2019, versus a net loss of RM19.98 million last year, thanks to share in profits from a joint venture. Revenue declined 4.75% to RM309.88 million from RM325.32 million.

At 9,12am, Hiap Teck rose 2.5 sen to 22 sen for a market capitalisation of RM295.72 million.

The group declared a first and final dividend of 0.5 sen for FY19.

Full-year net profit declined 9.46% to RM25.3 million, from RM27.95 million in the previous year, despite revenue growing 5.21% to RM1.19 billion from RM1.13 billion.