Mun Siong Engineering

Mun Siong Engineering: 2Q14 net profit gained 32% y/y to $0.8m, despite revenue of $15.8m (-27%), dragged by lower number of projects undertaken due to the group's project selection criteria. The bottom line benefitted from lower tax expenses, due to deductions on expenses qualifying for the govt's Productivity Innovation Credits scheme. NAV maintained at 12.28¢.