2HFY10 weaker than expected. We recently met up with management and came away with a bleaker outlook for the rest of FY10. Current oil and gas contract flows, especially for fabrication jobs, remain slow even though new development projects appear to be on the table. We thus suspect 3QFY10 earnings will again be weak and potentially similar to 2Qresults.
Wah Seong Corporation Berhad : More Earnings Disappointment Likely In 3Q-09/09/2010
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