SINGAPORE (Aug 28): Chuan Hup Holdings reported a 74.3% rise in earnings to US$17.9 million ($24.2 million) in FY17 from US$10.3 million in FY16 on higher sales.
Chuan Hup is an investment company with a portfolio of investments in the electronics manufacturing services and property sectors, in addition to its equity investments portfolio.
Revenue rose 18.7% to US$283.2 million from US$238.5 million due to an increase in sales from property and electronics manufacturing services.
The group also reported mark-to-market gains of US$3.38 million from investment securities and derivative financial instruments.
A year ago, the group reported an impairment loss of US$4.4 million on available-for-sale investments which was absent this year.
In its outlook, Chuan Hup says it is maintaining a cautious outlook given the ongoing geopolitical uncertainties despite a pickup in global economy and manufacturing activity.
The board is recommending a final and special dividend of 1 cent and 2 cents respectively.
Shares in Chuan Hup last traded at 81.5 cents.
