The company's NAV is $0.9341 after ex-final dividend of $0.015. At $0.41, the price to book ratio is only 0.439x. The company still has quite a bit of profits from the soon to TOP Seaside Residences to be recognized.
Keong Hong 1H2021 Result
Rev S$28m (vs 61m)
GP
S$-1m (vs 12m)
NP
S$-2m (vs 9m)
S
ingapore’s economy grew for the first time since the outbreak of Covid-19 with a 0.2% expansion in the first quarter of 2021. However, the construction sector continued to contract, though at a slower pace of 20.2% compared with 27.4% in the preceding quarter1 . The improved performance came on the back of a pickup in public and private sector construction activities in the first quarter as compared to the previous quarter.
While Singapore has largely brought the coronavirus under control and vaccine roll-out has been making good progress, there are growing concerns with the emergence of new variants that are more transmissible, and the effectiveness of the existing vaccines against them. Cases of re-infections in the migrant workers’ dormitory may post further threats, especially for the construction sector which relies heavily on migrant workers. The opening of borders is also unlikely to happen anytime soon as the pandemic seems to have gotten worse in other countries. Overall, 2021 will still be a tough year for our building construction and hotel investment business segments.
https://links.sgx.com/FileOpen/KHH%201H2...eID=666207
Stay home and stay safe, everyone.