KSH Holdings earnings up 50.5% to S$33.5m

Group revenue also on the rise.

KSH Holdings Limited (KSH Holdings) has announced that its earnings for the nine months ended December 31, 2013 (9MFY2014) has increased 50.3% to S$33.5 million. In the same period, Group revenue also rose by 61.2% to S$265.5 million, as the Group achieved higher revenue from all its three business segments.

KSH Holdings Limited has announced that its earnings for the nine months ended December 31, 2013 (9MFY2014) has increased 50.3% to S$33.5 million. In the same period, Group Revenue also rose by 61.2% to S$265.5 million, as the Group achieved higher revenue from all its three business segments

Mr Choo Chee Onn, Executive Chairman and Managing Director of KSH Holdings, commented “I am pleased with our financial performance, notably the strong topline for 9MFY2014, which has surpassed the topline for 9MFY2013. This attests to our strong expertise in our core construction business, which has positioned us well in tenders. Additionally, we also continue to share the success of our joint-venture property development projects. Apart from these, our acute understanding of property development and property management in Singapore, China and Malaysia has allowed us to identify and seize suitable opportunities.

“KSH’s strong fundamentals and proven ability to deliver what we commit to has paved the way for a successful inaugural issue of the S$75.0 million 5.25% Fixed Rate Notes in November 2013, as part of our S$300.0 million multicurrency Medium Term Note Programme. Along with strong cash and cash equivalents of S$144.6 million at hand, the Group has harnessed strong financial flexibility to pursue our regional expansion plans in Asia.
”We are pleased to have made our maiden entry into property development in Malaysia with the acquisition of freehold land which we intend to develop into a mixed development. Given our successful track record in Singapore, we are ready to look into geographical diversification into overseas markets to bring value to shareholders.”

In line with the Group’s strategy to further expand its regional presence, a 40% owned associated company of the Group had entered into a Sales and Purchase Agreement on January 15, 2014 to acquire 26 plots of freehold land measuring approximately 679,460 square feet in Klang, Negeri Selangor in Malaysia. The site may potentially be developed into a mixed development, and form part of a proposed business park, which is expected to be developed as an all-inclusive business enclave with a unique mix of residential and commercial space.