US markets closed flatish as the PCE index, often used as an inflation on
gauge, rose 0.6% in April. This is the largest single month gain since 2008.
KSH Holdings ($0.355, unchanged) announced revenue of S$153.1 million
for the financial year ended 31 March 2021 (“FY2021”), a 32.3% decline
yoy, due to the ongoing impact of the COVID-19 pandemic on the Group’s
business. The Group incurred S$3.8 million loss for FY2021. Excluding the
S$12.8 million losses and impairments relaxing to valuation of hotels and
investment properties, the Group would have a net profit of S$9.0 million
as at 31 March 2021. The losses and impairments relating to valuation of
hotels and investment properties are non-cash items which do not affect
the Group’s net cash flow from operating activities, which remain strong
at S$21.3 million in FY2021.