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KWAN YONG (09998.HK) has been awarded a contract worth 0.151 billion Singapore dollars by the Singapore Ministry of Education for construction.
KWAN YONG (09998.HK) announced that a construction contract worth approximately 0.151 billion Singapore dollars has been awarded through its wholly-owned subsidiary, KWAN YONG Construction Private Limited. The contract was granted by the Ministry of Education of Singapore and involves the proposed reconstruction of a primary school located at 8 Hougang Avenue. Construction work is expected to commence in mid-July 2025.
KWAN YONG issued a profit warning, forecasting an annual net profit attributable to Shareholders of approximately 2 million Singapore dollars.
KWAN YONG (09998) announced that the group expects to achieve an attributable net profit of approximately 2 million Singapore dollars for the six months ending December 31, 2024, compared to an attributable net profit of approximately 0.2 million Singapore dollars for the six months ending December 31, 2023. Based on currently available information, the Board of Directors believes that the expected increase in attributable net profit for the six months ending December 31, 2024, is primarily due to revenue growth driven by increased demand for construction in Singapore during the same period.