King Wan cited rising cost pressures and uncertainties over economic recovery as headwinds to M&E engineering in the next 12 months, even as Covid-19 restrictions are eased.
The group had clinched S$28.9 million in new M&E projects in Singapore in the January-to-June period alone, King Wan said in a separate announcement. “The group has maintained its versatility in undertaking M&E projects that require different skill sets,” managing director Chua Eng Eng said in a statement, while adding that the order book “has provided high revenue visibility” for King Wan.
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