CONSTRUCTION company Leung Kee Holdings has the dubious distinction of being number four on the list of worst performers in 1994 as its share prices slumped all year. It under-performed the Heng Seng Index by 81.44 per cent over the year. The poor response to its 248.23 million one-for-two rights shares - with a subscription rate of 77.97 per cent only - triggered a decline in November. Leung Kee sought $39.7 million to acquire rights shares in an electronic manufacturer, Sharp Brave Holdings, and to buy machinery. The company mainly engages in foundation works including construction of caissons, caisson walls, caisson caps, basements and site formation. It announced a loss attributable to shareholders of $13,508,645 in the year ended March 31, attributing the substantial loss to the severe competition. The company, while being optimistic about the future of construction industry in 1995 due to an increase of government projects, admitted it might not be able to benefit from the revival due to the fierce competition in the industry. and the continued rise in construction cost.
