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Chuan Hup Holdings reverses from red to net profit of US$9.6 mil for 1H21

Felicia Tan
Felicia Tan2/5/2021 05:54 PM GMT+08  • 2 min read
Chuan Hup Holdings reverses from red to net profit of US$9.6 mil for 1H21
Earnings per share (EPS) for the half-year period stood at 1.04 US cents compared loss per share of 0.03 US cents a year ago.
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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.

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