During the period, revenue fell by 78.6% y-o-y to US$2.5 million due to lower revenue from the group’s development property projects and lower gains from investment trading.
Chuan Hup Holdings (SGX:C33
) has reported earnings of US$1.5 million ($1.9 million) for the 1HFY2023 ended Dec 31, 2022, 8.01 times higher than earnings of US$181,000 in the corresponding period the year before.
The earnings surge was due to the higher share of results of associates, which surged 362.6% y-o-y to US$2.3 million due mainly to a one-off gain. The gain was recognised in relation to the excess of the group's share of an associate's identifiable assets and liabilities over the consideration paid for the acquisition of additional interests in Finbar Group Limited.
