PETALING JAYA: Wasco Bhd
’s core earnings for the third quarter of financial year 2024 (3Q24) are expected to come in slightly lower on a quarter-on-quarter basis due to moderation in its engineering segment as some projects are nearing the completion stage.
Hong Leong Investment Bank (HLIB) Research said the group, formerly known as Wah Seong Corp Bhd, was transitioning to some new jobs during 3Q24 where revenue recognition was slower during the engineering phase, as compared to fabrication and construction works.
