{"id":56252,"date":"2017-05-29T10:47:37","date_gmt":"2017-05-29T03:47:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ksh-holdings-fy2017-net-profit-down-33-4\/"},"modified":"2017-05-29T10:49:31","modified_gmt":"2017-05-29T03:49:31","slug":"ksh-holdings-fy2017-net-profit-down-33-4","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ksh-holdings-fy2017-net-profit-down-33-4\/","title":{"rendered":"KSH Holdings FY2017 net profit down 33.4%"},"content":{"rendered":"


\nKSH\u2019s share of profit from associated companies also posted lower, mainly due to the decreases in share of profit from Sequoia Mansion (pictured), preliminary costs on its China Gaobeidian project, impairment losses on unsold properties and decrease in sales and percentage-of-unsold properties. (Image: KSH Holding Limited)
\nKSH Holdings Limited saw its net profit for the financial year ended 31 March 2017 decline by 33.4 percent to S$41 million from S$61.5 million during the previous year.
\nThis comes as revenue fell 18.8 percent to S$199.3 million, primarily due to a 19.1 percent drop in contribution from the construction segment.
\nKSH also posted lower share of results of associated companies at S$8.5 million, mainly due to the S$12.2 million decrease in share of profit from Sequoia Mansion, the S$3.9 million preliminary costs incurred on the Gaobeidian project in China, S$3.6 million provision for impairment loss on unsold properties by associated companies, as well as the decrease in sales and percentage-of-completion recognition on development projects in Singapore.
\nHowever, share of results of joint ventures climbed to S$5.7 million on the back of profit recognised from High Park Residences project.
\nWith this, the company proposed \u201cfinal and special cash dividends of 1.5 Singapore cents and 0.5 Singapore cent per share, respectively, bringing the total dividends declared in FY2017 to 3.25 cents per share\u201d.
\nKSH also proposed to issue one bonus share for every four existing shares, with the \u201cbonus subject to approval from Singapore Exchange Securities Trading Limited\u201d.
\n\u201cOur order book remains healthy at S$340 million, as at March 31, 2017,\u201d said KSH Holdings executive chairman and managing director Choo Chee Onn.
\n\u201cAlthough the operating environment remains challenging, we believe our requisite credentials and track record in public construction projects, and close relationships with strategic customers in the private space will allow us to remain resilient.\u201d
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…KSH Holdings FY2017 net profit down 33.4%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KSH\u2019s share of profit from associated companies also posted lower, mainly due to the decreases...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-56252","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-eDi","jetpack-related-posts":[{"id":74298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-ksh-heeton-buy-geylang-properties-for-60mil\/","url_meta":{"origin":56252,"position":0},"title":"Lian Beng, KSH, Heeton buy Geylang properties for $60mil","date":"December 12, 2017","format":false,"excerpt":"\r Lian Beng Group Ltd, via its 42 percent-owned associated company Development 24 Pte. Ltd., has exercised an option to acquire the freehold properties known as 31 to 51 (ODD) Lorong 24 Geylang. KSH Holdings and Heeton Holdings also holds a 48 percent and 10 percent stake in Development 24.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ksh-secures-266-3mil-contract-to-build-riverfront-residences\/","url_meta":{"origin":56252,"position":1},"title":"KSH secures $266.3mil contract to build Riverfront Residences","date":"August 27, 2018","format":false,"excerpt":"\r KSH Holdings has been awarded a $266.3 million contract to develop Riverfront Residences in Hougang. \u00a0\u201cWe are pleased that the project has so far resonated well with the market as the consortium continues to monitor the market carefully to push sales appropriately at the right prices.\u201d \u00a0The contract will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81992,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-freehold-sites-bought-for-60mil\/","url_meta":{"origin":56252,"position":2},"title":"Geylang freehold sites bought for $60mil","date":"March 6, 2018","format":false,"excerpt":"\r A joint venture (JV) between Heeton Holdings, Lian Beng Group and KSH Holdings has completed the acquisition of several freehold land parcels at 31 to 51 (odd) Lorong 24 in Geylang for a total of $60 million on Monday (5 March). According to an SGX filing on released on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-en-bloc-projects-get-nod-from-lta\/","url_meta":{"origin":56252,"position":3},"title":"Two en bloc projects get nod from LTA","date":"November 20, 2017","format":false,"excerpt":"\r Three property developers in Singapore have received in-principle approvals from the Land Transport Authority (LTA) for their Pre-Application Feasibility Study (PAFS) for two en bloc redevelopment projects, revealed recent SGX filings. Last week, KSH Holdings, Heeton Holdings and Lian Beng Group announced that they obtained the LTA\u2019s in-principle approval\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-looks-to-brighter-future-after-paying-22-5mil-in-qc-charges\/","url_meta":{"origin":56252,"position":4},"title":"Heeton looks to brighter future after paying $22.5mil in QC charges","date":"December 12, 2017","format":false,"excerpt":"\r View of iLiv@Grange, a freehold condominium at 74 Grange Road. Heeton Holdings is now on the road to recovery after completely disposing of two housing developments, from which it incurred penalties totalling about $22.5 million for previously failing to sell all units within a specified timeframe, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-ticket-commercial-deals-bolstered-property-investment-sales-in-q2\/","url_meta":{"origin":56252,"position":5},"title":"Big-ticket commercial deals bolstered property investment sales in Q2","date":"July 21, 2020","format":false,"excerpt":"\r While general activity within the real estate market was muted, several big-ticket commercial deals, totalling $1.4 billion, bolstered investment sales during the quarter. Singapore saw property investment sales drop 73.4% year-on-year to $1.7 billion in the second quarter of 2020 from $6.4 billion over the same period in 2019.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56252"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=56252"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56252\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=56252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=56252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=56252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}