Wei Yuan (HKG:1343) expects a net profit of between SG$1.7 million and SG$2.2 million for the year 2024, up from SG$1.3 million a year prior, a Thursday filing with the Hong Kong bourse said.

The civil engineering utilities works contractor attributed the higher anticipated profit mainly to the absence of an impairment provision of investment in a joint venture, a lower share of loss of joint ventures, and a decline in income tax expense.