Vicom posts 30.2% drop in first-half earnings, expects periodic testing to pick up

In the second half of this year, the group expects to fund investing activities, including the cost for additions and alterations to the new building at Bukit Batok and to relocate existing machinery and equipment from the current location. The cost of these activities is estimated to be S$25 million, Vicom said.

For its vehicle-testing business, the demand for periodic testing is likely to pick up, as private vehicle inspection resumed from June 8 after the"circuit breaker" ended. However, demand for emission testing and type approval of new cars will still be soft, given that part of the quota for Certificates of Entitlement for the April-June 2020 period has been carried forward to the next calendar year, the company said.

Shares of mainboard-listed Vicom rose S$0.01 or 0.5 per cent to end at S$2.17 on Wednesday, before the results were released.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

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