Hiap Seng Engineering nets S$18.3m contracts
HIAP Seng Engineering Ltd on Tuesday said in a filing to the local bourse that it has been awarded two contracts worth about S$18.3 million for the provision of mechanical works in Singapore.
The works have started, the group said, adding that a plant construction project worth S$13.7 million is due to be completed by February 2017, while a plant maintenance work worth S$4.6 million is due for completion this July.
The group said it expects a positive contribution to its earnings from the contracts but does not expect any material impact on the net tangible assets or earnings per share for the current financial year ending March 31, 2016.
It added that none of the directors or controlling shareholders of the company has any interest, direct or indirect, in the above contracts.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results