Hiap Seng Engineering

The group’s gross profit almost doubled y-o-y to $6.1 mil from increased in maintenance activities this year.

The company reversed its loss of $606,000 recorded for the same period last year.

Hiap Seng announces 2-for-1 rights issue to raise $3.3 million for debt restructuring

Once the debt-restructuring is completed, Hiap Seng will undertake a rights issue exercise to raise up to $3 million.

Shares in Hiap Seng have halted trading since Nov 28, 2019.

SINGAPORE (Nov 28): Hiap Seng Engineering before market open on Thursday called for a trading suspension, citing concerns over the group’s ability to operate as a going concern.

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

SINGAPORE (Mar 23): Hiap Seng Engineering, the integrated engineering group for the oil and gas, petrochemical and pharmaceutical industries, has secured two contracts worth $53 million in Singapore.

SINGAPORE (Feb 7): Hiap Seng Engineering posts a net loss of $7.0 million for the 3Q ended December, compared to earnings of $0.9 million a year ago.

SINGAPORE (Nov 13): Hiap Seng Engineering announced that it has made a loss of $3.6 million in 2Q18, compared to earnings of $871,000 in 2Q17.