Khong Guan Flour Milling has swung into the red with a net loss of $483,000 in the first half ended Jan 31, 2016, from earnings of $31,000 a year ago.
Revenue fell 6.9% to $29.2 million from $31.4 million, due mainly to competition faced by two of its subsidiaries in Malaysia.
The flour miller saw a decline in sales in the trading of wheat flour, animal feed and biscuits.
Khong Guan says its existing three-storey conservation building in Singapore will be redeveloped into an eight-storey light industrial building, following the award of the main contract costing $8.9 million. The project is scheduled to be completed in two years.
Shares of Khong Guan last traded at $1.88 on March 4.
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Revenue fell 6.9% to $29.2 million from $31.4 million, due mainly to competition faced by two of its subsidiaries in Malaysia.
The flour miller saw a decline in sales in the trading of wheat flour, animal feed and biscuits.
Khong Guan says its existing three-storey conservation building in Singapore will be redeveloped into an eight-storey light industrial building, following the award of the main contract costing $8.9 million. The project is scheduled to be completed in two years.
Shares of Khong Guan last traded at $1.88 on March 4.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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