Keong Hong Holdings warns of impending losses

Higher construction costs impacted the company's bottom line.

Keong Hong Holdings warned shareholders of a net loss for 1H24.

In a bourse filing, the company attributed its expected net loss to "loss-making pre-pandemic building construction projects due to higher construction costs for materials and labour."

The company is finalising its unaudited financial results for the period and will release it on or before 15 May.

In the meantime, the company advised its shareholders and potential investors to exercise caution when dealing with its shares.