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Low Keng Huat reports 91% fall in 2Q19 earnings on absence of sales

PC Lee
PC Lee9/15/2019 04:29 PM GMT+08  • 2 min read
Low Keng Huat reports 91% fall in 2Q19 earnings on absence of sales
SINGAPORE (Sept 15): Construction company Low Keng Huat reported 2Q19 ended July earnings of $0.36 million, down 91% fom $4.15 million a year ago.
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SINGAPORE (Sept 15): Construction company Low Keng Huat reported 2Q19 ended July earnings of $0.36 million, down 91% fom $4.15 million a year ago.

Revenue fell 89% to $8.4 million from $77.9 million a year ago. The decrease was mainly due to absence of sales in development segment as there was no development project launched for sale in 1H19.

Kismis Residences & Tranquilia @ Kismis were fully sold last year. Uptown @ Farrer is 27.5% completed and scheduled to launch for sale by Sept 14. Citadines Balestier is expected to commence business by Sept 30 while Lyf @ Farrer is expected to obtain TOP by 4Q22 and to commence business by 2Q23.

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