Koh Brothers Eco Engineering Limited, a sustainable engineering solutions provider listed on SGX Catalist, announced a revenue of S$149m for the financial year ending 31 December 2024. Despite a 16% decline in revenue from the previous year, the company reported a significant improvement in its net loss, which decreased to S$7.8m in the second half of 2024 from S$9.3m in the first half.
The decline in revenue was attributed to the completion of certain projects within the Engineering and Construction segment. However, this was partially offset by increased revenue from the Bio-Refinery and Renewable Energy segment, driven by rising demand for vegetable oils. The company achieved a gross profit of S$6.2m, marking an 822% increase from the previous year.
Koh Brothers Eco’s CEO, Paul Shin, highlighted recent project wins, including a S$313.9m contract from the Land Transport Authority for the Lorong Halus Bus Depot and a S$77.6m contract with Sport Singapore for the Toa Payoh integrated development. These projects contribute to a robust order book valued at approximately S$828.7m.
The company remains focused on leveraging its capabilities to secure larger-scale projects, aiming for sustainable growth. With a healthy balance sheet, including cash and bank balances of S$58.6m, Koh Brothers Eco is well-positioned to navigate future challenges and opportunities in the engineering sector.
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