Kian Ho Bearings (Singapore) reported profit for the first six months of 2002 of sgd 875,000 (USD $488,000), up sharply from 2001's sgd 650,000 ($362,000).

Sales, however, continued to be a problem for the company, tied to the commodity and semi-commodity ball bearing markets. First half 2002 sales fell to only sgd 30 million ($16.7 million) from sgd 35.3 million ($19.7 million) in 2001.

While Kian Ho's 2001 sales (sgd 35.3 million) had been strong compared to 1999 (sgd 33.4 million), 2000 (sgd 33.4 million), and 2002 (sgd 30 million), profits in 2001 were less than half the other years' results.

Although profit jumped in 2002, it is still far below 1999 and 2000. 1999 first half profit was sgd 1.69 million, sgd 1.04 million in 2000, sgd 0.65 million in 2001 and now sgd 0.88 million for 2002.

Kian Ho is a manufacturer and distributor of a wide variety of automotive and industrial bearings, bushings, seals and o-rings.

The company has its base in Singapore and maintains operations in Malaysia, China (Acker Machinery in Shanghai) and Taiwan (Ascend Bearing).

The majority owners are KHB Holdings Pte. Ltd. (Singapore) with 36.4% and Gat Holdings Pte. Ltd. (Singapore) with 9%.

Kian Ho manufactures water pump and double-row ball bearings under the Komei brand. It also produces ball bearings in the following series: 6000-6008, 6200-6207, 6300-6306, 4200-4212, 4303-4310, 5202-5212, 5304-5310, 3200-3212 and 3304-3310. All in open, double shield (ZZ) or double seal (2RS).

The company is also a major bearing distributor, with brands that include IKO, FAG, SKF, NTN, Koyo, NSK, Nachi, Timken, URB and NOK.

Kian Ho was founded in 1956 and gained unwanted notoriety in 1999 when CEO Kwek Che Tong was caught embezzling several million dollars. Managing Director Tan Gwan Him took over from Mr. Tong, who is now working to repay the funds.