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Keong Hong warns of expected rise in net loss for 9M FY2022

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Paige Lim

Paige Lim

Published Thu, Aug 4, 2022 · 07:23 PM
    • Ronald Leo, chairman and chief executive of Keong Hong Holdings. The construction player recently reported a net loss of S$10.8 million for its half year ended Mar 31, 2022.
    • Ronald Leo, chairman and chief executive of Keong Hong Holdings. The construction player recently reported a net loss of S$10.8 million for its half year ended Mar 31, 2022. PHOTO: BT FILE

    MAINBOARD-LISTED construction player Keong Hong Holdings is warning of an expected increase in net loss for the 9 months ended Jun 30, 2022, the board said in a profit guidance on Thursday (Aug 4).

    The expected increase in net loss is attributable to “higher-than-expected construction costs for materials and labour, exacerbated by labour shortages and other inflationary factors due to the Russia-Ukraine conflict and the strict lockdowns in China”, it said in the bourse filing.

    Keong Hong had most recently reported a net loss of S$10.8 million for its half year ended Mar 31, 2022.

    The board said that the group is still finalising its unaudited financial results for the first 9 months of FY 2022, which will be out by Aug 14.

    Shares of Keong Hong closed unchanged at S$0.34 on Thursday.

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    keong hongFinancial resultsProfit guidanceConstruction

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