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.