MAINBOARD-listed Koh Brothers Group and its Catalist-listed subsidiary Koh Brothers Eco Engineering both expect to report a net loss for the six months ended June 30, owing to the adverse impact of Covid-19, they said on Friday.
"The imposition of circuit breaker measures by the Singapore government in April 2020 has severely impacted the group’s businesses. Although the circuit breaker measures have been gradually lifted, these measures will not be sufficient to restore business activities to pre-Covid-19 levels," the parent company said.
Koh Brothers Group's revenue from the construction and building materials and real estate divisions have therefore been hit. Koh Brothers Eco Engineering, which provides construction and civil engineering services under the Koh Brothers Group's construction division, said that this sector was severely affected by the spike in Covid-19 infections among foreign workers living in dormitories.
Koh Brothers Eco Engineering said:"The stoppage of most of the group’s construction projects has caused delays to project schedules, increased project costs and disruption in project management."
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Losses in H1 expected by Koh Brothers Group, Koh Brothers Eco Engineering due to Covid-19SINGAPORE (THE BUSINESS TIMES) - Mainboard-listed Koh Brothers Group and its Catalist-listed subsidiary Koh Brothers Eco Engineering both expect to report a net loss for the six months ended June 30, owing to the adverse impact of Covid-19, they said on Friday (July 24).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Losses in H1 expected by Koh Brothers Group, Koh Brothers Eco Engineering due to Covid-19SINGAPORE (THE BUSINESS TIMES) - Mainboard-listed Koh Brothers Group and its Catalist-listed subsidiary Koh Brothers Eco Engineering both expect to report a net loss for the six months ended June 30, owing to the adverse impact of Covid-19, they said on Friday (July 24).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Golf: Westwood to skip PGA Championship due to Covid-19 concerns in the USLONDON (REUTERS) - Former world number one Lee Westwood said on Saturday (July 25) that concerns about the Covid-19 pandemic in the United States will prevent him from flying over and participating in tournaments, including the PGA Championship next month.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Mexico City mayor warns of potential COVID-19 rebound as hospitalizations riseThe mayor of Mexico City warned on Friday of a possible resurgence of coronavirus cases in the sprawling capital in the coming months, noting that ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
F1 scraps American races due to virus, adds European trioLONDON: Formula One scrapped all four of this season's races in the Americas due to the COVID-19 pandemic on Friday and added three European ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: Older workers vulnerable to rising tide of retrenchment as ageist mindsets persistPoor attitudes about older workers and their ability to learn, adapt and work make them an exposed group in a COVID-19 economy, says SUSS’ Megan ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »