SIA Engineering still struggling with cost control

Staff and other costs led to an 8% decline in operating profit.

SIA Engineering Company might be getting a headache just finding a way to control its spending.

According to UOB Kay Hian analyst K Ajith, cost control remains a challenge for the group and was apparent in its recent quarterly results.

To recall, the group's net profit declined 13% YoY in the past quarter. At the operating level staff costs have risen by 5% YoY and this, along with higher depreciation & amortisation and subcontract costs, led to an 8% slump in core operating profit.

"This highlights the challenges and the tight labour environment that SIAEC operates in. SIAEC’s wage cost increase contrasts with SATS’ relatively flat wage cost for the same period," the analyst explained.

At the non-operating level, associate and JV profits were bolstered by higher profits from Eagle Services Asia (ESA) resulting in a 1.9% rise in associate and JV income. However, this was unable to offset the decline at the operating level, leading to the decline in core earnings.

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up 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. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. 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

Top News

Test upload with new AWS Policy

Testin upload

30 One-Sentence Stories From People Who Have Built Better Habits

None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.

news conversion

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.