This was due to stronger property sales in Cambodia, and Other income also rose mainly due to a forfeiture of progressive deposits from property sales, gain on disposal of property, plant and equipment, and rental income.
Real estate and property developer Hong Lai Huat has reported a turnaround to profitability with earnings of $3.2 million for its FY2021 ended December 2021, compared to a full year loss of $8.5 million in FY2020.
Revenue for FY2021 more than doubled from a year ago, rising from $7.2 million to $16.7 million. Gross profit margin also rose from 38% to 62%.
