Mun Siong Engineering Limited: Financial Analysis and Investment Recommendation
Company Overview
Mun Siong Engineering Limited is a Singapore-based company engaged in engineering services. The company’s core business operations, business segments, and geographic footprint are not explicitly stated in the report. However, based on the financial statements, it appears that the company operates in a single business segment.
Industry Position and Competitors
The report does not provide information on the company’s position within the industry, its competitors, and its market share.
Revenue Streams, Customer Base, Supply Chain, and Competitive Advantage
The report does not provide detailed information on the company’s revenue streams, customer base, supply chain, and competitive advantage. However, it mentions that the company’s revenue for the financial year ended December 31, 2024, was $64,826,000.
Financial Analysis
Income Statement
Revenue: $64,826,000 (no change from unaudited results)
Gross profit: $1,135,000 (no change from unaudited results)
Loss before tax: $6,188,000 (no change from unaudited results)
Loss after tax: $5,523,000 (no change from unaudited results)
Balance Sheet
Total assets: $72,333,000 (vs. $72,162,000 in unaudited results)
Total liabilities: $25,702,000 (vs. $25,531,000 in unaudited results)
Total equity: $46,631,000 (no change from unaudited results)
Key Facts
The company’s unaudited and audited financial statements have minor differences, primarily related to line disclosures and reclassifications.
The company has a tax recoverable amount of $171,000, which is reclassified to current assets.
The company has a loan from a shareholder, which is disclosed separately in the audited financial statements.
Dividend and Earnings
No dividend is proposed in the report.
The company’s loss after tax for the financial year ended December 31, 2024, was $5,523,000, indicating a decline in profitability.
Special Activity or Action
The company is taking steps to improve its financial reporting and transparency, as evidenced by the detailed breakdown of differences between unaudited and audited financial statements.
Recommendation
For current investors: If you are currently holding Mun Siong Engineering Limited stock, it is recommended that you hold your position. The company’s financial performance is not deteriorating significantly, and the minor differences between unaudited and audited financial statements suggest that the company is taking steps to improve its financial reporting.
For potential investors: If you are currently not holding Mun Siong Engineering Limited stock, it is recommended that you avoid investing in the company at this time. The company’s loss after tax for the financial year ended December 31, 2024, was $5,523,000, indicating a decline in profitability.
Disclaimer: The recommendation is based solely on the information provided in the report and should not be considered as investment advice. Investors should conduct their own research and consult with financial advisors before making any investment decisions.
Report Details: Date of report: April 14, 2025 Financial year: December 31, 2024
Net Profit Growth/Decline: The company reported a loss after tax of $5,523,000 for the financial year ended December 31, 2024, indicating a decline in profitability. Net profit declined by $XXX
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Mun Siong Engineering Limited: Financial Analysis and Investment Recommendation

Company Overview

Mun Siong Engineering Limited is a Singapore-based company engaged in engineering services. The company’s core business operations, business segments, and geographic footprint are not explicitly stated in the report. However, based on the financial statements, it appears that the company operates in a single business segment.

Industry Position and Competitors

The report does not provide information on the company’s position within the industry, its competitors, and its market share.

Revenue Streams, Customer Base, Supply Chain, and Competitive Advantage

The report does not provide detailed information on the company’s revenue streams, customer base, supply chain, and competitive advantage. However, it mentions that the company’s revenue for the financial year ended December 31, 2024, was \$64,826,000.

Financial Analysis

Income Statement

• Revenue: \$64,826,000 (no change from unaudited results)
• Gross profit: \$1,135,000 (no change from unaudited results)
• Loss before tax: \$6,188,000 (no change from unaudited results)
• Loss after tax: \$5,523,000 (no change from unaudited results)

Balance Sheet

• Total assets: \$72,333,000 (vs. \$72,162,000 in unaudited results)
• Total liabilities: \$25,702,000 (vs. \$25,531,000 in unaudited results)
• Total equity: \$46,631,000 (no change from unaudited results)

Key Facts

• The company’s unaudited and audited financial statements have minor differences, primarily related to line disclosures and reclassifications.
• The company has a tax recoverable amount of \$171,000, which is reclassified to current assets.
• The company has a loan from a shareholder, which is disclosed separately in the audited financial statements.

Dividend and Earnings

No dividend is proposed in the report.

The company’s loss after tax for the financial year ended December 31, 2024, was \$5,523,000, indicating a decline in profitability.

Special Activity or Action

The company is taking steps to improve its financial reporting and transparency, as evidenced by the detailed breakdown of differences between unaudited and audited financial statements.

Recommendation

For current investors:

If you are currently holding Mun Siong Engineering Limited stock, it is recommended that you hold your position.

For potential investors:

If you are currently not holding Mun Siong Engineering Limited stock, it is recommended that you avoid investing in the company at this time.

Disclaimer:

The recommendation is based solely on the information provided in the report and should not be considered as investment advice. Investors should conduct their own research and consult with financial advisors before making any investment decisions.

Report Details:

Date of report: April 14, 2025

Financial year: December 31, 2024

Net Profit Growth/Decline:

The company reported a loss after tax of \$5,523,000 for the financial year ended December 31, 2024, indicating a decline in profitability.

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