Link: https://links.sgx.com/1.0.0/corporate-announcements/VO8EAH9ILA8SJB4K/2a2fda2e49ca6f913d75ff6107318532cbcb233daa488e03cecb252cc6bfbe7f

Summary:

• Mun Siong Engineering Limited's first quarter of FY2025 saw an 11.6% increase in revenue to S$15.8 million, contrasting with a decrease in gross profit and margin, and an increase in net loss before tax.
• Operational performance showed regional divergence, with a decline in Singapore revenue and significant growth in North America, while Malaysia saw revenue growth but reduced gross profit.
• Despite operating losses affecting shareholders' funds, the company's financial position showed improvements in cash balances and a reduction in loans and lease liabilities.
• The business guidance highlights continued challenges in the Singapore market and the growing importance of contributions from Malaysian and North American operations.
• Key challenges include delays in claim approvals in Malaysia, potential economic risks in North America, and the need for cost management efforts in Singapore.