Heng Hup Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a substantial decrease in net profit of approximately 55% to 65% for the Relevant Period as compared to the corresponding period in 2022. The decrease in net profit of the Group for the Relevant Period was mainly attributable to the lower sales volume and average selling price of scrap ferrous metal resulted from the softened steel market.