Chasen Holdings

Chasen reports 7% lower FY19 earnings of $5.4 mil on higher tax expenses

SINGAPORE (May 31): Chasen Holdings, the Pan-Asian logistics specialist, reported FY19 earnings of $5.4 million, down 7% from a year ago on lower operating income and higher income tax expense.

However, the group saw record full-year gross profit of $32.1 million for FY19, thanks to record revenue propelled by demand for its Specialist Relocation services in China.

But other operating income fell 37% to $2.4 million while income tax expense nearly trebled to $2.5 million.

Chasen records 11th straight quarter of profit; declares interim dividend of 0.1 cent

SINGAPORE (Feb 13): Chasen Holdings, the investment holding company with subsidiaries in specialist relocation solutions, reported its 11th straight quarter of profit.

3Q19 earnings dipped 5% to $1.3 million, of which the flagship specialist relocation business was the largest contributor.

Revenue for 3Q19 rose 8% to $34 million from a year ago, with all three business segments – specialist relocation, third-party logistics (3PL), and technical and engineering (T&E) – reporting growth.

Chasen wins $6.8 mil relocation contracts in China

SINGAPORE (Nov 26): Mainboard logistics specialist Chasen Holdings has secured two new contracts in China through its wholly-owned subsidiary, Chasen (Shanghai) Hi-Tech Machinery Services.

Th contracts, worth a combined RMB34 million ($6.8 million) and awarded by a repeat customer, is for the provision of specialist relocation services in China for a flat-panel display production plant and a semi-conductor fabrication facility.

Chasen Holdings clinches $38.4 mil worth of new contracts

SINGAPORE (June 27): Chasen Holdings announced that it has secured $38.4 million worth of new contract across all three of its business divisions – specialist relocation service, third-party logistics (3PL) and technical & engineering (T&E) services.

The contract wins include a US$9.3 million ($12.6) million project under the group’s specialist relocation service segment to provide move-in and related logistics services for the setting up of production lines for a large automobile product manufacturing plant in the US.

Chasen's 4Q earnings double to $2.4 mil on higher revenue

SINGAPORE (May 30): Chasen Holdings, the provider of specialist relocation services, reported earnings of $2.4 million for the 4Q ended March, doubling from its 4Q17 earnings of $1.2 million a year ago on higher revenue.

The latest set of quarterly results brings the group’s earnings for the full year to $5.5 million, double of its FY17 earnings of $2.6 million.

Chasen Shanghai unit wins 2 more contracts worth $18 mil

SINGAPORE (May 31): Chasen Holdings says subsidiary Chasen Hi-Tech (Shanghai) Machinery Services has won another two contracts worth $18 million for FY18.

The first contract, valued at $7 million, requires Chasen Shanghai to move in equipment and related logistical requirements for an 8.6th Generation TFT LCD plant.

Located in Xianyang, Shaanxi province, the project is starting in June and is expected to be completed by end December. By then, Chasen Hi-Tech will be in a favourable position to secure the next phase move-in contract.

Chasen swings back to the black in FY17

SINGAPORE (May 29): Chasen Holdings swung back to profitability in FY17 with earnings of $2.5 million compared to a loss of $3.3 million a year ago.

For the 4Q ended March, the relocation specialist also reported earnings $1.2 million compared to a loss last year.

For the quarter and full year, group revenue of $32.3 million and $106.2 million respectively were 14% or $12.7 million higher respectively from the same periods a year ago.

Chasen units in Malaysia and Vietnam win contracts totalling $0.97 mil

SINGAPORE (April 3): Chasen Holdings announced that its specialist relocation subsidiaries in Malaysia and Vietnam had recently secured contracts totalling $0.97 million.

In Malaysia, Chasen Logistics Sdn Bhd (CLSB) won contracts totalling RM2.15 million ($0.68 million).

This consists of a project from a US solar panels manufacturer to relocate four decommissioned production lines to the scrapyard.

Another project involves the moving in of sensitive optical production equipment and tools for an Eastern European manufacturer of high-performance interference filters.

M1, Oceanus, Asia Enterprises, Keppel REIT, Chasen, MIT, Ascendas REIT, Sarine

SINGAPORE (Jan 25): Here are some stocks that could move the market this Wednesday morning:

M1 Limited posted a 16.1% fall in FY16 net profit after tax to $149.9 million mainly due to lower international call and roaming revenues. Operating revenue for FY16 ended Dec decreased 8.3% to $1.06 billion. Shares of M1 closed 6 cents higher at $2.17.

Chasen secures $20.6 mil worth of new projects for FY17

SINGAPORE (Jan 24): Chasen Holdings, the investment holding company with subsidiaries in specialist relocation solutions, technical & engineering services and third-party logistics, has secured three book orders totalling to $20.6 million for the financial year ending Mar 31, 2017.

The first specialist relocation project is valued at $17 million and undertaken in the US by Chasen (USA), a wholly owned subsidiary of Chasen Logistics Services.

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