Chuan Hup Holdings earnings up 192.3% to US5.79 mil for FY2023

The earnings surge was due to changes in the fair value of the group’s investment securities.

Chuan Hup Holdings C33 has reported earnings of US$5.79 million ($7.85 million) for its FY2023 ended June 30, up 192.3% compared to its earnings of US$1.98 million in FY2022.

The earnings surge was due to changes in the fair value of the group’s investment securities, which improved to a gain of US$1.54 million compared to its loss of $3.38 million in FY2022.

In FY2023, revenue fell by 68.8% y-o-y to US$4.91 million, while property development expenses decreased by 94.6% compared to FY2022.

Earnings per share (EPS) for FY2023 tripled to 0.63 US cents, compared to 0.21 cents in the previous year.

Chuan Hup has declared a dividend of 1 Singapore cent per share for FY2023.

As at June 30, cash and cash equivalents stood at US$42.7 million, a 38.9% y-o-y decrease.

Shares in Chuan Hup Holdings closed 0.3 cents or 1.65% up at 18.5 cents on Aug 25.

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