King Wan, Swee Hong post quarterly losses

Singapore

SEVERAL listed companies announced over the weekend that they had swung into the red for the three months ended Dec 31, 2015, including King Wan Corporation and Swee Hong.

King Wan posted a S$5.86 million net loss for the third quarter, from a net profit of S$85,379 for the corresponding period a year ago. This was despite a 22 per cent rise in revenue to S$26.25 million, thanks to higher recognition of revenue from increased ongoing mechanical and electrical (M&E) contracts during the quarter.