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BRIEF-Chip Eng Seng Expects Group Will Record Overall Loss For 1H2020

Published 28/05/2020, 08:33 am
© Reuters.

May 28 (Reuters) - Chip Eng Seng Corporation Ltd CESE.SI :

* GROUP'S FINANCIAL PERFORMANCE IN 1H2020 WILL FARE WORSE THAN CORRESPONDING PERIOD IN 2019

* EXPECTS GROUP WILL RECORD AN OVERALL LOSS FOR 1H2020

* HAS ABILITY TO MEET ALL BORROWINGS THAT ARE MATURING IN FY2020

* EXPECTS CONSTRUCTION BUSINESS WILL CONTINUE TO FACE CHALLENGING LANDSCAPE IN NEAR-TERM

* SUSPENDED MARKETING EFFORTS FOR RESIDENTIAL DEVELOPMENT PROJECT IN MELBOURNE, FIFTEEN85, TILL 2021

* TEMPORARY OCCUPATION PERMITS FOR PARK COLONIAL & PARC KOMO EXPECTED TO BE GRANTED IN Q3 OF 2021 & H1 OF 2022 RESPECTIVELY

* TOP OF GRANDEUR PARK RESIDENCES EXPECTED TO BE GRANTED BY END-2020

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