Mun Siong Engineering

Mun Siong Engineering: Reported 3Q13 net loss of $31k, compared to a net profit of $1.2m in 3Q12, while revenue slumped 14.4% to $19.2m. This was mainly due to the completion of work, as well as lower volume of project activities. Operational expenses continued to escalate due to the tight labour market and the foreign workers' levy, which the group faces a challenge in passing the costs to customers. As a result, the group is currently reviewing the possibility of a relocation of certain parts of its operations to Malaysia to lower costs. Mun Siong has a current order book of $38.7m.