Keong Hong posts net loss of $3.92m in FY2024

Loss per share is $0.0167.

Keong Hong Holdings Ltd. has reported a net loss of $3.92m in its audited financial statements for the fiscal year ending 30 September 2024 (FY2024).

According to a bourse filing, this was due to lesser revenue recognised and a higher cost of sales.

Revenue decreased by 2.2% to $172.6m, attributed to the adjustment of revenue to contract liabilities for a construction project.

Furthermore, provisions increased by 12.8% due to the additional provision of the onerous contract for a construction project.

Loss per share attributable to the owners of the company is $0.0167.

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