While listed in the Hong Kong Exchange (Stock Code:1343), Wei Yuan is a Singapore business who operates in the cable installations for power grid and telecommunication companies in Singapore. They also have a minor business segment in road surfacing. Their geographical business is in Singapore and are in the civil engineering industry.
The company is a mid tier industry in the civil engineering segment of Singapore holding a 5.7% market share based on its IPO prospectus.
Observations on Profits
Looking through the company's FY20 profits, it can be seen how Singapore's covid measures have affected its profitability and operations.
During the first half of 2020, Singapore issued a stop work order in a bid to stem the covid spread among foreign workers, as a result, Wei Yuan registered a loss of $4.5million on the back of $23 million revenue. However, as Singapore re-opened in the second half of 2020, they registered a profit of $1.2million on the back of $34 million in revenue....