【KSH Hldg ER0 交流专区】金成兴控股 KSH HOLDINGS LIMITED

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We are a well-established Construction, Property Development and Property Management group with over 29 years of experience in the Construction industry. Our operations encompass Construction in Singapore, some exposure within the Malaysian Construction industry, and Property Development and Property Management in the PRC. We have also made our entry into Property Development in Singapore by way of joint ventures, where we hold up to 25% - 35% stake in a typical partnership.

We act as main contractor for both the Public and Private Construction Sectors in Singapore, and the Private Sector in Malaysia. Backed by a strong and diversified track record, we cover a good mix of projects across various industries, ranging from Public to Residential, Commercial, Industrial and Institutional sectors.

In Singapore, we are particularly focused on the Public Sector, and are registered with the Building and Construction Authority ("BCA") with an A1 grading under the category CW01 for general building. This is currently the highest grade for contractors' registration in this category, and allows us to tender for Public Sector Construction projects of unlimited value.

In the PRC where we have an established presence since 1997, we currently have two property developments that are developed by our associated company, JHTD – Tianxing Riverfront Square in Tianjin (currently held as an investment property), and Liang Jing Ming Ju in Beijing. We also have a property management arm, TTX Property Management, which manages Tianxing Riverfront Square.

公司官网：http://www.kimsengheng.com/index.cfm

Name of Announcer *	KSH HOLDINGS LIMITED
Company Registration No.	200603337G
Announcement submitted on behalf of	KSH HOLDINGS LIMITED
Announcement is submitted with respect to *	KSH HOLDINGS LIMITED
Announcement is submitted by *	Choo Chee Onn
Designation *	Executive Chairman and Managing Director
Date & Time of Broadcast	12-Aug-2013 17:33:10
Announcement No.	00108

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

For the Financial Period Ended *	30-06-2013
Description	Please see attached, the following:- (1) Unaudited First Quarter Financial Statements and Dividend Announcement for the period ended 30 June 2013; and (2) Press Release

Attachments

KSH_1QFY2014_Financial_Period_FS_30June2013.pdf KSH_1QFY2014_NewsRelease_dd_12_Aug_2013_Final.pdf

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KSH Holdings wins $42.5 mil construction contract
Source: The Edge   |   Publish date: Fri, 13 Dec 01:41  
http://www.theedgesingapore.com/the-daily-edge/business/46656-ksh-holdings-wins-425-mil-construction-contract.html

KSH Holdings’ wholly-owned subsidiary, Kim Seng Heng Engineering Construction (Pte), has won a $42.5 million construction contract by United World College of South East Asia. Under the contract, the group will carry out work on the proposed addition of 1 block of five-storey building with other ancillary works to the existing UWCSEA campus at 1207 Dover Road Singapore 139654. Construction is expected to commence in December 2013, with completion expected within 20 months.

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文： 2014年02月13日 每日头条
http://www.sharesinv.com/zh/articles/44734/

金成兴控股(KSH Holdings)通过子公司金成兴工程建筑(Kim Seng Heng Engineering Construction)赢得价值7,690万元的合约，在阿尔柏王园(King Albert Park)建筑和维持一个七层楼高的混合用途发展。公司的总订单额增至4亿6,000万元以上，对财务表现的贡献直至FY17。

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每日头条 | 2014年03月27日
http://www.sharesinv.com/zh/articles/45659/

金成兴控股(KSH Holdings)与柬埔寨籍人士 Lok Oknha Sear Rithy组合资New Global Imperial Investment，主要在柬埔寨从事房地产发展和投资活动。对方为组合资而以6,400万美元收购了位于金边一幅建有一家酒店的1万5,882平方米地段。

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创纪录盈利会让金成兴更上一层楼吗？
交易良策 | 2014年06月13日
文 : 林思杰（译：麦美莹）
http://www.sharesinv.com/zh/articles/47572/

1.金成兴控股在FY14取得创纪录的4,450万元盈利。
2.建设局透露，新加坡的建筑需求预期将会增长。
3.金成兴控股为未来两年已取得4亿1,000万元建造订单。

公司简介
金成兴控股(KSH Holdings)专门从事建筑、产业发展及产业管理，业务遍布新加坡、马来西亚及中国。

FY14业绩


在截至2014年3月31日的FY14，集团的收入比上一个财政年度的2亿3,160万元增加9,290万元(40.1%)至3亿2,450万元，主要是因为建筑部门的FY14收入从FY13的2亿零610万元增加了7,960万元(38.6%)至 2亿8,570万元。此外，产业发展部门的FY14销售从FY13的2,000万元增加了1,250万元(62.9%)至3,250万元。产业投资部门的FY14收入也从FY13的550万元增加了80万元(13.5%)至630万元。

建筑成本增加
融资成本及其他营运成本预期将会增加，由于利率及其他成本(包括租金、水电费、运输费等)提高。

公司的销售成本主要是来自建筑成本。建筑成本很有可能会继续上涨，由于政府收紧外劳政策、对建筑业的监管条例越来越严格及建筑材料成本增加。

如果销售成本上涨，长期而言将会对金成兴带来影响。如果你买入了这只股，那么你不妨多留意业内的消息，以确保销售成本的涨幅是在预期内。如果销售成本的涨升高于预期，那么你需要检讨金成兴的毛利是否受到严重的打击，然后考虑这只股是否值得你继续持守。

展望未来
贸工部透露，建筑业在今年第一季年比增长6.7%，比前一个季度的7.3%增幅来得低，原因是私人领域的建筑活动疲弱。在多个冷却房产业措施的冲击下，私宅的需求及价格相继回落，因此，私人领域的建筑需求预期将会偏软。建设局预测，2014年的建筑需求大约是310亿元至380亿元，由于公营领域的建筑需求增加，以及机构及土木工程的需求提高。

这对金成兴来说是好消息，因为建筑需求增加将会推动其在下一个财政年度的收入提高。由于金成兴大部份业务是集中于新加坡的建筑业务,因此新加坡建筑业的乐观前景肯定对金成兴有利。

建筑订单
截至2014年3月31日，公司的建筑订单超过4亿1,000万元，将会为公司未来两年的财务表现提供贡献。

我喜欢金成兴的另一个原因是其营运收入很少出现违约的问题。当一家公司售出产品或服务，而另一方同意为该产品或服务支付费用，那么收入便会记录在案。问题是这些收入很多时候因为对方违约而没有收回。金成兴的营运收入与现金流的数字相差不远，证明了它在这方面没有遇到问题。

值得长期持守
鉴于金成兴的前景似乎一帆风顺，投资者可能会考虑买入这只股。可是，正如上述提到，我们要特别留意建筑成本的涨跌。建筑成本上升会令公司的毛利大受影响，而股价也有可能出现波动。