Corporate digest

KSH Holdings

KSH Holdings will pay a special cash dividend and plans to undertake a bonus share issue as it reported a tripling of net profit in its fiscal second quarter due to recognised profits from a completed China project. Net earnings rose to S$23.2 million, or 5.68 Singapore cents per share, in the quarter, the construction and property development group announced on Friday. For its fiscal first half, KSH's net profit doubled to S$33.3 million, or 8.18 Singapore cents per share. KSH will pay an interim dividend of 1.55 Singapore cents per share, comprising an ordinary cash payout of 1.25 Singapore cents and a special payout of 0.3 Singapore cent per share. The company also plans to issue one free bonus share for every eight existing shares held. KSH shares closed at 62 Singapore cents on Friday, up by 1.6 per cent or a cent. Revenue was a hair lower, by 0.9 per cent, at S$62.1 million for the quarter, but share of results of associates jumped to S$22.2 million from S$5.4 million a year ago. That increase was largely due to S$15.8 million that was recognised from the Sequoia Mansion project in Beijing, for which profit from sold units could be recognised upon construction completion.

Jumbo Group