KSH reports FY2023 earnings of $22.3 million

KSH Holdings has reported a FY2023 earnings of $22.3 million – a decrease of $1.9 million from its preceding year ended March 31 2023. The company’s share of earnings from associates and joint ventures were the main reason for the decline.Revenue in the financial year was up 25.4%, clocking in at $301.4 million. This was mainly attributed to the increase in construction revenue, boosted by KSH’s order book of more than $240 million as at March 31. Additionally, the company has plans to distribute a final dividend of 1 cent, bringing its total dividend for the full year to 2 cents.
KSH Holdings registered a FY2023 earnings of $22.3 million, a decline of $1.9 million from the year ended March 31 2023, due to its reduced share of earnings from associates and joint ventures. The company’s revenue, however, was strong – it was up 25.4% to $301.4 million, largely supported by its construction revenue of more than $240 million.

A key factor of this higher revenue was increased activity in the company’s development projects in Singapore. These projects – Peace Centre/Peace Mansion, Euro-Asia Apartments at 1037 Serangoon Road, Park View Mansions and Bagnall Court – are either fully sold or almost sold to date.

Furthermore, KSH is part of a consortium developing the Singapore Sino Health City in the Gaobeidian county near Beijing. KSH holds a 22.5% stake in this project, and more than 60.9% of the approximately 1,300 units launched in this project have already been sold. Construction for Phase 1 of this project has been concluded and KSH has started earning a profit from the sold units, while the construction for Phase 2 has already started.

KSH Holdings is also involved in the hospitality industry. “We are seeing a recovery in occupancy and average room rates, with positive trends from ‘pent-up’ travel demand, following the reopening of economies,” said the chairman and managing director Choo Chee Onn. KSH and Lian Beng have also developed a 110-unit property in Geylang.

The condo is also surrounded by shopping malls, eateries, and amenities to meet all kinds of needs. Furthermore, the area is well-connected with major roads and expressways like Jurong Town Hall, Chong Kuo, and PIE. The Myst Condo is the perfect choice for families who want the convenience and easy access of living close to the city. With its enviable location, residents can easily go anywhere they need to in a flash.

In addition, KSH has a 33.75% stake in another mixed properties development in Gaobeidian, which has positively contributed to the overall earnings for FY2023. As a result, the company will be paying a final dividend of 1 cent, bringing the full year payout to a total of 2 cents.