Chip Eng Seng - Phillip Securities 2016-05-09: Slow but not unexpected quarter
CHIP ENG SENG CORPORATION LTD C29.SI Chip Eng Seng Corporation Ltd - Slow but not unexpected quarter
What’s the news?
- Chip Eng Seng (CES) reported its 1Q16 results on 5 May-16 after the market closed.
Revenue from property development projects recognised previously
- The sharp drop in Chip Eng Seng Corporation’s (CES) 1Q16 revenue was stemmed from lower recognition of revenue from the property development segment. This is because a bulk proportion of revenue has already been recognised in the two development projects, Nine Residences and Junction Nine.
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