Koh Brothers Group’s net profit increased 45 percent to $4.7 million in 1Q 2014, from $3.3 million in 1Q 2013, mainly due to higher profit contributed by its real estate division.
Francis Koh, Managing Director and Group CEO of Koh Brothers, said, "The group’s ability to achieve good performance for our property development business amidst challenging market conditions in the residential property market demonstrates the Group’s ability to differentiate our attractively-located residential properties to appeal to homebuyers."
The group also receives recurring income from commercial developments, such as Sun Plaza.
Koh added the group, as part of as a joint venture, will develop an executive condominium (EC) site in Westwood Avenue in Jurong West in 1Q 2014.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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