KSH Holdings to focus mainly on Singapore, China projects in 2013

Latest outlook also vows vigilance in costs.

KSH Holdings said construction demand in the year 2013 is expected to be between S$26 billion and S$32 billion according to recently released BCA forecasts, buoyed by public sector demand, with stronger public housing and infrastructure works.

With this economic backdrop in mind, Mr Choo commented: “We have remained resilient given our long track record in Construction. Notwithstanding general macro uncertainties, we have recently been awarded with a new construction project, Q Bay Residences and attained a strong construction order book of approximately S$461.0 million as at January 31, 2013. We will continue to prudently manage our costs, cognizant of a rising operational cost environment. Whilst paying greater emphasis on public sector construction activities in Singapore, we will also look at opportunities to grow our portfolio of private sector property development projects in Singapore as well as both the public and private sectors in the PRC.

“In Property Development, our recently launched projects were well received in general, with sales either in line with or better than expectations. Rezi 26, Lincoln Suites, The Boutiq and Cityscape@Farrer Park have progressed well in construction and contributed to net profit for 9MFY2013. Profit recognition for Sky Green at Macpherson and Palacio, 96% and 71% sold respectively, is expected to kick in during FY2014. We shall continue to exercise prudence in the evaluation of each opportunity before embarking on any new acquisition or investment, namely with reputable JV partners, in development property projects.”

The Group expects to remain profitable in FY2013 "barring unforeseen circumstances."