KS Energy Limited, an investment holding company, operates as an energy services provider primarily to the oil and gas, marine, and petrochemical industries worldwide. It operates through three segments: Drilling, Engineering, and Distribution. The company offers capital equipment charter, drilling and rig management, and specialized engineering and fabrication services to the oil and gas industry, as well as engineering design and project management services, and other oil and gas related services. It also supplies components and accessories, and instrumentation and process flow solutions; capital equipment, such as offshore piling hammers and cranes; industrial materials and products, incl...
19 Jurong Port Road
Founded in 1974
KS Energy Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
Aug 14 17
KS Energy Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. The group reported revenue of SGD 15,081,000, loss from operating activities of SGD 14,194,000, profit before tax of SGD 554,000, net loss attributable to owners of the company of SGD 552,000 or 0.11 per diluted share against revenue of SGD 12,866,000, loss from operating activities of SGD 26,511,000, loss before tax of SGD 34,997,000, net loss attributable to owners of the company of SGD 31,453,000 or 6.10 per diluted share a year ago.
For the six months, the group reported revenue of SGD 20,837,000, loss from operating activities of SGD 28,308,000, loss before tax of SGD 19,541,000, net loss attributable to owners of the company of SGD 17,426,000 or 3.38 per diluted share against revenue of SGD 21,715,000, loss from operating activities of SGD 44,539,000, loss before tax of SGD 62,976,000, net loss attributable to owners of the company of SGD 55,189,000 or 10.70 per diluted share a year ago. Cash flows used in operating activities was SGD 1,114,000 against SGD 5,733,000 a year ago. Payments for purchase of plant and equipment were SGD 447,000 against SGD 859,000 a year ago. Consolidated revenue decreased mainly due to the lower revenue from the Engineering business.
KS Energy Limited Announces Inclusion On The Watch-List Due To The Minimum Trading Price (MTP) Entry Criteria With Effect From 5 June 2017
Jun 3 17
The Board of Directors of KS Energy Limited announced that the Singapore Exchange Securities Trading Limited (the “Exchange”) has notified the Company on 2 June 2017 that pursuant to Listing Rule 1311(2), the Company will be placed on the Watch-list due to the Minimum Trading Price (MTP) Entry Criteria with effect from 5 June 2017. The Exchange conducts half yearly reviews to identify issuers to be included on the Watch-list. Pursuant to the review by the Exchange, it was noted that the Company recorded: (i) A volume weighted average price of less than S$0.20 over the last six (6) months; and (ii) An average daily market capitalization of less than S$40 million over the last six (6) months. Following the inclusion in the Watch-list, the Company must take active steps to meet the requirements of Listing Rule 1314(2) within 36 months from 5 June 2017, failing which the Exchange would delist the Company or suspend trading in the Company’s shares with a view to delisting the Company. Listing Rule 1314(2) states that the Company will be assessed by the Exchange for removal from the Watch-list if it records volume-weighted average price of at least SGD 0.20 and an average daily market capitalization of SGD 40 million or more over the last six (6) months. As required by Rule 1313(2), the Company will have to provide quarterly updates on its financial situation, its future direction, or other material development that may have a significant impact on its financial position. The Company shall also announce immediately any material development that occurs between the quarterly updates. The Company wishes to notify all its shareholders and business partners that the Group’s business shall continue as usual and that trading in its securities will also continue unless a trading halt or suspension is effected.