Home Capital Results

Hiap Seng Engineering sinks into full year losses of $18.9 mil

Michelle Zhu
Michelle Zhu5/31/2018 08:19 AM GMT+08  • 2 min read
Hiap Seng Engineering sinks into full year losses of $18.9 mil
SINGAPORE (May 31): Hiap Seng Engineering declared larger 4Q losses of $9.8 million from its $1.8 million loss in 4Q17 due to a combination of declining turnover and gross profit margin, higher-than-expected operating costs, and a goodwill impairment from
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.

SINGAPORE (May 31): Hiap Seng Engineering declared larger 4Q losses of $9.8 million from its $1.8 million loss in 4Q17 due to a combination of declining turnover and gross profit margin, higher-than-expected operating costs, and a goodwill impairment from operations in Thailand.

The latest quarter’s results concludes FY18 with $18.9 million in losses compared to earnings of $2.5 million a year ago.

Revenue for the latest quarter under review fell 36.3% to $22.3 million from $35 million previously on lower recognition of revenue compared to a year ago.

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.