GSH Corporation

GSH warned that it had chalked up three consecutive years of losses

Shares in GSH Corporation closed flat at 16.5 cents on Dec 16.

CRCG Malaysia replaces NTSJ Construction whose contract was terminated in April due to NTSJ’s breaches which delayed the project

GSH will contest the claims while it appoints a new contractor

As of March 31, its net asset value (NAV) was 62.07 cents per share

Goi, who controls 59.82% of the company, will mop up rights not taken up by other shareholders

Executive chairman Lim Chung Chun of iFAST Corp and chairman Sam Goi of Hanwell Holdings raise stakes in respective companies.

Revenue rose 14.7% y-o-y to $65.8 million due to the continued progressive sales recognition from its residential development projects in Malaysia, Eaton Residences in Kuala Lumpur, and Coral Bay in Kota Kinabalu.

GSH took possession of the land only in April 2020

GSH expects progressive sales contributions from its Malaysia projects to boost its property business in the quarters ahead