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Keong Hong's 1Q earnings sink 53.6% to $1.8 mil

Stanislaus Jude Chan
Stanislaus Jude Chan2/12/2018 05:46 PM GMT+08  • 2 min read
Keong Hong's 1Q earnings sink 53.6% to $1.8 mil
SINGAPORE (Feb 12): Property developer and construction company Keong Hong Holdings saw its earning fall 53.6% to $1.8 million for the 1Q ended December, from $3.8 million a year ago.
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SINGAPORE (Feb 12): Property developer and construction company Keong Hong Holdings saw its earning fall 53.6% to $1.8 million for the 1Q ended December, from $3.8 million a year ago.

This was mainly due to the absence of foreign exchange gain of $1.5 million registered a year ago, as well as higher administrative expenses.

Administrative expenses jumped 44.2% to $4.7 million in 1Q18 as a result of higher legal and professional fees, higher depreciation expense, higher staff and administrative overheads, and foreign exchange loss.

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