Chip Eng Seng warns of net loss amidst COVID-19 impact

Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No This was mainly due to adverse effects of COVID-19. Property developer Chip Eng Seng has issued a profit warning for FY2020 as it expects to have a net loss compared to its FY2019 net profit of approximately $32.6m, amidst the “adverse impacts of COVID-19 on the group’s businesses.” According to the warning, the net loss incurred by the group for the whole of FY2020 will be wider than the $25.7m net loss reported for H1 2020. read more