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.
Profit before tax, on the other hand, surged by 614% y-o-y to US$1.8 million on the one-off gain from the share of results of associates.
In addition, market movements and exchange rate fluctuations have led to lower mark-to-market loss recognised on investment securities of US$1.2 million, lower exchange losses recognised of US$0.9 million, higher interest income earned of US$0.7 million, lower gains on investment trading of US$1.7 million and lower increase in fair value of investment properties of US$0.8 million.
Earnings per share (EPS) for the 1HFY2023 stood at 0.16 US cents.
See also: MAS net profit rises to $19.7 bil in FY2024/25 with investment gains more than doubling y-o-y
As at end-December, cash and cash equivalents stood at US$38.2 million.
Shares in Chuan Hup Holdings closed flat at 22 cents on Feb 10.
