Home Capital Results

Chip Eng Seng narrows 2HFY2021 losses to $31.6 million, plans 2 cents dividend

The Edge Singapore
The Edge Singapore2/16/2022 10:29 PM GMT+08  • 1 min read
Chip Eng Seng narrows 2HFY2021 losses to $31.6 million, plans 2 cents dividend
A key reason for the losses was from a $14.4 million impairment recognized for its education joint venture in China
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Chip Eng Seng Corporation has reported narrower losses of $31.6 million for its 2HFY2021 ended Dec 2021, 44.3% lower versus the year earlier period red ink of $56.7 million.

Revenue in the same period increased by 28.2% y-o-y to $493 million, led by higher contribution from its construction, hospitality and education divisions, although there was lower contribution from property development.

A key reason for the losses was from a $14.4 million impairment recognized for its education joint venture in China, which suffered together with the regulatory measures curbing the overall tuition industry.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.