Heng Hup Holdings Limited (01891.HK)

Heng Hup Holdings Ltd. is an investment company, which engages in trading of recycling materials. The company is headquartered in Petaling Jaya, Selangor and currently employs 354 full-time employees. The company went IPO on 2019-03-15. The firm and its subsidiaries are engaged in the trading of scrap ferrous metals, used batteries, waste paper, iron-ore, and other scraps in Malaysia. The company operates in a single segment, which is trading of recycling materials. Its scrapyard sales business includes the purchase of scrap ferrous metals from various sources and process them at its scrapyard to the required specification and sells them to its steel mill customers. Its direct delivery sales business includes the purchase of processed scrap ferrous metals from external third-party scrapyards (suppliers who are not approved scrap metal providers of the steel mills) and sells them to customers without processing. The company also operates approximately three scrapyards with an aggregate land area of 61,000 square meters, equipped with the processing machinery for ferrous metals. The company also operates three wastepaper yards located in the state of Melaka and Johor.