Keong Hong Holdings (SGX:5TT) expects to report a net loss for the fiscal year ending Sept. 30, 2024, due to ongoing losses from pre-pandemic building construction projects, according to a Wednesday filing on the Singapore Exchange.
Higher costs for materials and labor have impacted these projects, although newer contracts secured in 2023 and 2024 have begun to generate positive profit margins.
The company expects to release its FY2024 results on or before Jan. 28.
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