Hiap Seng Engineering flags Q4 and full-year loss

MAINBOARD-LISTED Hiap Seng Engineering on Monday said it expects to post a net loss for both its fiscal fourth-quarter and full year ended March 31, 2019, following a preliminary review of the company's unaudited financial results. 

It added that further details of the group's performance will be disclosed when it releases its financial statements by June 30. 

The company was placed on the Singapore Exchange's watch-list on June 5 last year under the minimum trading price criteria, for failing to maintain a six-month volume-weighted average trading price of 20 Singapore cents, and a market cap of S$40 million. Hiap Seng Engineering has until June 4, 2021 to cure this status, or risk being delisted. 

The counter last traded at 5.8 Singapore cents, down 22.7 per cent, or 1.7 cents on Friday.