PETALING JAYA: Wah Seong Corp Bhd’s recently proposed land transactions are expected to increase the company’s net debt (including time deposits) to RM551.3mil from RM512.4mil as well as its gearing to 0.94 times from 0.87 times.
Nevertheless, the group is expected to remain on track to return to profitability in the financial year ending Dec 31, 2022 (FY22), with the recent line pipe thermal insulation job for the East African Crude Oil Pipeline project.
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