Broker Name: DBS

Date of Report: (Date not specified in provided content; inferred to be post-FY25 results, likely early FY26)

Excerpt from DBS report.

Report Summary

• HongLeong Asia’s FY25 results exceeded expectations, driven by robust growth in its Powertrain Solutions unit, which saw strong export-led volume growth, premium product mix, and disciplined cost execution, resulting in a 28.5% rise in adjusted EPS and a 22% increase in revenue.
• Looking ahead, the outlook remains positive with continued export demand, especially for engines used in data centres and infrastructure projects, while the company maintains a strong balance sheet, increased dividends, and strategic initiatives for further growth, such as a potential spin-off of the marine and genset subsidiary.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com.sg