Tiong Seng warns of FY2025 net loss as legacy project costs bite

The warning follows a $2.8m net profit in FY2024.

Tiong Seng Holdings Limited is expecting to report a net loss for the financial year ended 31 December 2025 (FY 2025), following a net profit of $2.8m in FY2024, according to a bourse filing dated 16 February.

The expected loss is primarily due to lower revenue and timing differences between the recognition of variable order costs and the corresponding revenue, which remains subject to customer assessment and approval.

The Group also recognised final losses from legacy projects secured before the Covid-19 pandemic, largely due to increased materials, labour and subcontracting costs incurred and recognised in the first half of FY2025.

Tiong Seng will release further details of the group’s performance when it publishes its unaudited FY2025 results by 1 March 2026.

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