Chip Eng Seng Corporation Ltd. provided group earnings guidance for the second half and full year ended December 31, 2022. The Board of Directors of the company announced that following a preliminary review of the unaudited consolidated financial results of the Group for the second half-year ended 31 December 2022, the Group expects to report a net loss after non-controlling interests for the second half of 2022. Compared to the net loss after non-controlling interests of approximately SGD 31.6 million incurred by the Group for the second half-year ended 31 December 2021, the net loss after non-controlling interests incurred for second half 2022 will be smaller.

Notwithstanding the above, the Company expects to report an overall net profit in respect of the Group for the full-year ended 31 December 2022.