Low Keng Huat posts 74% fall in 3Q earnings to $3 mil

SINGAPORE (Dec 8): Construction firm Low Keng Huat posted a 74% fall in 3Q earnings to $3 million from $11.8 million a year ago.

Revenue for the three months to Oct fell 34% to $12.4 million. Revenue for construction fell by half to $0.4 million from a year ago due to absence of construction activity from third-party projects.

Revenue for hotel & F&B businesses fell to $7.6 million from $10.2 million mainly due to sale of Duxton Hotel Saigon in May and lower room rates and lower occupancy in Duxton Hotel Perth.

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