Keong Hong recently released their 1H’17 earnings (here). Seeing that they have released 2 earnings reports since I last wrote on them, I thought it would be good to document some updates given that Keong Hong is an extremely dynamic company.

Keong Hong’s 1H’17 earnings results have been largely in line with my expectations and therefore this update will be focused on their strategy execution. Since my last review (here), Keong Hong had been executing on a third pillar for growth:

  1. A) Enter into Joint Ventures with 15%-20% stake and as the main contractor for property developments. This enables them to risk-share on development while earning from being the main contractor.
  1. B) Diversify away from merely constructing and developing in Singapore and work towards building recurring revenue.
  2. C) Investments for both horizontal and vertical construction synergy. (NEW!)

Here is an update …