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KSH Holdings unit wins S$53.8 million construction contract
CONSTRUCTION and property company KSH Holdings has scooped up a new contract that will likely contribute to the bottom line for several years, the board of directors said on Thursday.
Wholly owned subsidiary Kim Seng Heng Engineering Construction has picked up a construction deal for S$53.8 million, which is expected to start in August 2018 and finish in 2020.
The award of the new contract has lifted the group's Singapore construction order book to more than S$560 million, and the order book is expected to contribute to financial results until FY2021, the board added.
Another recent boost to the order book came in November 2017, when the subsidiary received a letter of intent from a 35 per cent-owned associate for a construction contract worth S$266.3 million.
Under that contract, KSH will build a nine-block condominium project as part of a consortium - which also includes Oxley Holdings Lian Beng Group and the private investment firm of Super Group's Teo family - to redevelop Rio Casa in Hougang after the former HUDC estate's collective sale.
KSH's first-quarter results, for the three months to June 30, are slated to be released on Aug 10 after the market close.
The counter ended lower by S$0.01, or 1.6 per cent, at S$0.615, before the latest announcement.