Tiong Seng expects net loss for H1 2025

It is mainly due to final costs from pre-COVID projects.

Tiong Seng Holdings has announced that it expects to report a net loss for the first half of 2025, reversing a net profit of $5m from the same period last year.

The loss is mainly due to final costs from projects secured before the COVID-19 pandemic, which were hit by higher material, labour, and subcontracting expenses.

This profit warning is based on preliminary unaudited figures. Final results for the six months ended 30 June 2025 will be released by 12 August 2025.

Tiong Seng reported a net profit of $2.8m for the full year ended 31 December 2024.

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