KSH Holdings to milk S$23m from Beijing asset

Current order book stood at S$446m.

According to OCBC Investment Research, in China, KSH’s 45% Beijing condo project could also begin sales this year. 

"We view a potential firm performance at this project to be significant for KSH’s earnings profile which could sustain earnings growth into FY15 by contributing an estimated S$23m net earnings upon TOP," said OCBC.

Here's more:

Still looking to strengthen order book. The order book currently stands at S$446.0m which we view to be healthy and we understand management is actively in the midst of seeking more contracts.

In 2013 to date, order book replenishment now cumulates to S$233m – already exceeding the S$163m total last year. Construction contracts won include Q Bay Residences, a JTC district cooling system building and its 45%-owned condominium development project in Beijing, Liang Jing Ming Ju Phase 4 (LJMJ).