However, the net loss incurred by the company in its 2HFY2022 will be smaller than the net loss incurred in its 2HFY2021 at $31.6 million, it clarifies.
Chip Eng Seng says it expects to report a net loss for the 2HFY2022 in its profit guidance released Feb 8.
The loss is attributable to higher-than-expected foreign exchange losses as well as higher-than-expected provisions to be made in respect of certain of the company’s construction projects. Chip Eng Seng does not specify which construction projects it was referring to.
