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Keong Hong gives notice of three years of consecutive losses

Felicia Tan
Felicia Tan • 1 min read
Keong Hong gives notice of three years of consecutive losses
As at March 12, Keong Hong’s latest six-month average daily market capitalisation is at $35 million.
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Construction company Keong Hong has given notice that it has recorded pre-tax losses for the three latest financial years in a row.

On Jan 31, the company reported a loss of $49.5 million for the FY2023 ended Sept 30, 2023. This was 7.8% deeper than the loss of $45.9 million for the FY2022. The company also reported a loss of $16.9 million in the FY2021.

According to Singapore Exchange S68 -

’s (SGX) rules, a company will be placed on its watch-list if it records three consecutive years of losses and an average daily market capitalisation of less than $40 million over the last six months.

As at March 12, Keong Hong’s latest six-month average daily market capitalisation is at $35 million.

Shares in Keong Hong closed at 16 cents on March 12.

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