KSH Holdings Limited’s net profit rose 22.8 percent to a record high of $44.5 million for FY 2014, a 22.8 percent increase from $36.3 million a year before.
The Group’s revenue jumped 40.1 percent to $324.5 million from $231.6 million in FY 2013, lifted by higher construction revenue and sales of development properties in Singapore and China.
Through joint ventures in China as well as Cambodia, KSH is also looking at other regional and overseas opportunities. Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings, said, “I am pleased that through joint ventures with reputable business partners, KSH has entered the property development business in Malaysia in January 2014, through the acquisition of 26 plots of freehold land measuring approximately 679,460 square feet in Klang, Negeri Selangor in Malaysia.”
Earlier this month, KSH acquired Prudential Tower in a joint venture, and in February 2014, its construction arm won a $76.9 million contract to build a mixed-use development at King Albert Park (KAP), which will include KAP Residences.
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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