KSH Holdings

OCBC drops coverage on KSH Holdings post FY19 earnings miss

SINGAPORE (June 3): OCBC Investment Research is ceasing coverage on KSH Holdings, citing “reallocation to resources” after the construction group’s latest set of financial results missed expectations on the back of poorer-than-expected margins.

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).

KSH announces $55.4 mil construction contract win

SINGAPORE (Apr 26): KSH Holdings announced Friday that wholly–owned subsidiary Kim Seng Heng Engineering Construction has been awarded a construction contract worth more than $55.4 million.

The new contract is expected to commence in May 2019, and expected to be completed by December 2020.

The latest contract win brings KSH’s construction order book in Singapore to more than $486.0 million.

Shares in KSH closed half a cent higher at 52 cents on Friday.

Heeton-led consortium acquires Crowne Plaza hotel in London for $149 mil

SINGAPORE (April 14): A consortium led by Heeton Holdings has fully acquired LC London, which owns the Crowne Plaza London Kensington hotel in London, UK, for £84.3 million ($148.9 million).

AF Global, who in Dec last year announced it was selling full ownership rights for Crowne Plaza London Kensington for some £84.4 million in cash, is the former owner of LC London. It is also a subsidiary of SGX-listed companies Aspial Corp and Fragrance Group.

KSH Holdings posts 36% drop in 3Q earnings to $6.1 mil

SINGAPORE (Feb 14): KSH Holdings reported 3Q19 earnings declined 35.8% to $6.08 million from $9.47 million in 3Q18.

In 9M19, the group’s earnings came up to $16.4 million, 16.2% lower than $19.6 million in 9M18.

Total revenue for the quarter was 80.6% higher at $65.5 million from $36.3 million last year, supported by an 84.1% y-o-y increase in project revenue to $64.2 million, but partially offset by a 4.4% drop in rental income and investment properties to $1.38 million.

Heeton-KSH-Oxley-SLB JV delays Nov launch of Gaobeidian project amid trade war

SINGAPORE (Oct 21): Heeton Holdings, KSH Holdings, Oxley Holdings and SLB Development have delayed the November launch of its Gaobeidian project in China.

This is due to uncertainties arising from ongoing trade war between the US and China, the JV said in a filing on Friday night.

The JV is investing RMB145 million ($28.8 million) in the developer of a property project in Gaobeidian in Hebei province.

Heeton, KSH, Lian Beng jointly acquire Hotel Indigo Glasgow in Scotland

SINGAPORE (Oct 3): Heeton Holdings, KSH Holdings and Lian Beng Group have jointly acquired Hotel Indigo Glasgow in Scotland on Monday.

The consortium is led by Heeton, which holds an effective interest of 60%, while Lian Beng and KSH have 20% each. This is the consortium’s first hospitality asset in Scotland.

The property is located near the Glasgow Central station and is well placed for Glasgow’s central business district (CBD) area, tourist attractions and shopping districts. It is also a 15-minute drive away from the airport.

Heeton and KSH in joint acquisition of second Japan hotel

SINGAPORE (Aug 16): Heeton Holdings and KSH Holdings is jointly acquiring its second hotel in Japan.

The 10-storey Smile Hotel in Asakusa, Tokyo, comprises 96 bedrooms and is located close to the Asakusa metro.

The freehold property has a land area of 361.38 sqm and a total gross floor area of 1,793.43 sqm.

Heeton will hold a 70% interest while KSH will hold the remaining 30% in the consortium making the acquisition.

The hotel will remain operating under the Smile Hotel brand and will be managed by the current hotel operator.

KSH's construction segment has more quarters of strong earnings growth in store: OCBC

SINGAPORE (July 16): OCBC is reiterating its “buy” recommendation on KSH Holdings with a lowered target price of 94 cents.

This came despite the group’s stock price falling 4.7% to 61.5 cents on Jul 13, following the Singapore government’s recent announcement on new property cooling measures.

112 of 300 units put up for sale at Affinity at Serangoon sold over weekend: Oxley

SINGAPORE (June 4): Oxley Holdings says JV unit Oxley Serangoon sold 112 units out of the 300 units at Affinity at Serangoon during its Phase 1 launch over the weekend.

The average price for the units sold was $1,575 psf and from across all unit types, says Oxley in a Monday night filing. Eighty percent of the buyers were Singaporeans with the remaining 20% made up of PRs and foreigners.

Affinity is a 99-year leasehold development comprising seven blocks with 1,012 one- to four-bedroom apartments and 40 strata landed houses.

Be informed of the stories that matter


Be informed of the stories that matter