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KSH Holdings' FY19 earnings down 75% after changes to accounting treatment

Michelle Zhu
Michelle Zhu5/31/2019 07:56 AM GMT+08  • 2 min read
KSH Holdings' FY19 earnings down 75% after changes to accounting treatment
SINGAPORE (May 31): KSH Holdings has announced FY19 earnings of $7.7 million for FY19, down 74.8% from a restated $30.4 million in FY18 after changes to accounting treatment which are in line with International Financial Reporting Standards (IFRS).
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SINGAPORE (May 31): KSH Holdings has announced FY19 earnings of $7.7 million for FY19, down 74.8% from a restated $30.4 million in FY18 after changes to accounting treatment which are in line with International Financial Reporting Standards (IFRS).

This comes mainly due to a lower share of results of associates and joint ventures, where the results of residential development projects in Singapore were impacted due to the IFRS Interpretations Committee’s recent decision to expense borrowing costs related to completed and ready-to-sell residential development properties regardless of sold or unsold unit.

Revenue for FY19 nonetheless registered a 51.4% increase to $200 million from a restated $132 million previously.

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