KSH Holdings Ltd, an established construction and property company, has posted total revenue of S$30.5 million in the third quarter of the financial year 2012, down 51.4 percent over the same period last year.
The decline in revenue was mainly attributed to lower numbers from its construction business and a drop in profit before tax, which slipped to S$29.1 million and S$4.3 million respectively.
However, the company’s other operating expenses surged to S$2.2 million in Q3, up from S$1.0 million over the same period last year, fuelled by an increase in provision for anticipated losses on construction projects.
“The group is strengthened by resilient fundamentals and a balanced portfolio of construction and property projects in both public and private sectors. Our management team comprising industry veterans will steer the group well in these tough circumstances,” said Choo Chee Onn, Executive Chairman and Managing Director of KSH.
“We expect more tendering opportunities in 2012 for government projects such as public housing, university campuses, industrial estates and hospitals. Our solid track record of projects in both public and private sectors, positions us in good stead to compete for suitable opportunities that will arise in both the construction and property sectors,” he added.
Looking forward, Choo said the group remains cautiously optimistic on the outlook of its core construction business, noting that the company will “prudently select viable opportunities to tender for construction projects, keeping in mind the possible impact from the uncertainties in economic conditions that may have an effect on the performance of our business.”
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