Chuan Hup Holdings has reported net profit of US$9.6 million ($12.8 million) for the 1HFY2021 ended December, putting the company back in the black from losses of US$0.3 million in the 1HFY2020.

This was mainly due to the foreign exchange gain of US$7.6 million, mark-to-market gains on investment securities of US$2.4 million, as well as share of results from associated companies of US$0.7 million.

Group revenue stood 11.3% y-o-y higher at US$8.4 million, due to contribution from its One Kennedy Maylands project. The project was completed and commenced settlement in May 2020.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook