Hiap Seng calls for trading suspension amid going concern uncertainty

Singapore

HIAP Seng Engineering on Thursday requested a trading suspension on its shares even as it engaged a financial consultant to review its financials and viability.

The board said that it is unable to conclude if the group can operate as a going concern at this stage.

The company said in its Q2 2020 results announcement on Wednesday that it would undergo a restructuring and realignment exercise that would include the disposal of some assets. These assets could include freehold land and buildings in Thailand and leaseh…