Keong Hong buckles up as it rides construction roller-coaster
Amid slowing jobs and squeezed margins, it is diversifying its portfolio to pull in the all-important recurring income.
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Anita Gabriel
Singapore
LESS is more, so goes a design maxim that espouses simplicity in style. It might also well be the guiding motto of Keong Hong Holdings, that three years ago climbed the ranks to Singapore Exchange's mainboard from Catalist and has survived several boom and bust cycles over the past 30 years.
Keeping things simple is exactly how company founder and majority owner Ronald Leo Ting Ping has led the homegrown builder, which today has a market capitalisation of some S$100 million. Last year, it earned some S$22 million on the back of S$165 million in revenue.
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