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Steel Hawk Faces Project Overruns Despite 50% Revenue Growth

By TLA AI Editor2 min read

Kuala Lumpur, 28 August 2026 – Steel Hawk Berhad recorded a 50.3% rise in second-quarter revenue to RM17.72 million but swung to a RM9.41 million net loss, highlighting how project overruns can overwhelm top-line growth in engineering and fabrication. Additional costs, foreseeable-loss provisions and delays weighed on margins as the group managed a broad portfolio of ongoing contracts.

Administrative expenses increased to RM5.61 million from RM3.31 million and finance costs jumped to RM3.43 million from RM0.14 million. For the first half, revenue fell 40.2% to RM38.44 million from RM64.27 million, while the group posted a RM7.68 million net loss against a RM9.24 million profit previously.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.