SIA Engineering's salary costs jumped 5.7% to $498.2m

But headcount was flat.

According to OCBC, salary costs increased 5.7% to S$498.2m due to wage increases as headcount stayed roughly flat.

Increase in staff cost was outweighed by decreases in subcontract services (-19.3% to S$136.7m on the back of lower project costs), material cost (-2.2% to S$214.2m) and overheads (-6.3% to S$169.5m), leading expenditure to fall 2.1% to S$1,019m.

Here's more from OCBC:

Management guides that the group's business is expected to remain stable in the near term while acknowledging that the operating environment remain challenging due to uncertainties regarding the world economy. SIAEC will continue to focus on improving productivity and controlling costs.

Management is continuously evaluating potential investment opportunities.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia