KSH Holdings says it expects to report a net loss for the FY2021 ended March compared to profit of $15.4 million in the FY2020.
The expected net loss is recognised after taking in losses from fair value adjustments of certain hotel properties held by the group’s associates and investment properties held by the group due to the ongoing Covid-19 pandemic.
SEE:KSH reports higher 2Q earnings of $6 mil on higher topline plus results from associates
The pandemic has also impacted the group’s construction business negatively for the FY2021.
The group will announce its results for the FY2021 on or before May 28.
Shares in KSH closed flat at 36 cents on May 21.
