CHUAN Hup Holdings' wholly-owned subsidiary, CH Biovest, has entered into a new loan agreement dated May 30 to lend PSD Holdings a sum of US$7 million.

The loan is for a two year period and interest on the loan is set at 8 per cent per annum.

" (CH Biovest) has entered into the loan agreement to optimise returns on its available funds," said Chuan Hup in a release to the Singapore Exchange. " This is consistent with the overall objective of the company and its subsidiaries of enhancing shareholder value."

This follows a previous loan of US$10 million granted to PSD under a loan agreement dated April 24.

PSD is a Singapore incorporated investment holding company and is the sole shareholder of Pacific Star Development, a property development company with a special focus to source and invest in the planning development and management of prime development projects in the Asia region. PSD has ownership interests in various property assets in Malaysia and Thailand.

TUG and barge service provider Chuan Hup Holdings on Monday reported that net profit for its third quarter ended March 31, 2015 had surged to US$20.08 million, compared to US$2.27 million in the year-ago period, due to one-off gains from the disposal of its interest in an associate as well as the disposal of a leasehold property.

Meanwhile, revenues grew 18.6 per cent to US$48.96 million due to a 23.8 per cent increase in the revenues of electronics manufacturing services.

For the nine months ended March 31, 2015, net profits increased by 79.1 per cent to US$24 million mostly due to one-off transactions during the quarter, and revenues held steady at US$147.96 million, compared to US$147.769 million in the year-ago period.

The group expects the global economic outlook for the next quarter and the next 12 months to be conservatively positive.

Ongoing concerns of growth prospects in the eurozone and China could lead to volatility in global financial markets which may impact mark-to-market valuations of investments, the group said.

It added that uncertainties in the pace of economic growth in different regions could also impact demand for electronics manufacturing services and residential properties in Australia and the board of directors will continue to exercise prudence when considering new investments.

Earnings per share in the third quarter stood at US$  2.15 cents while net asset value per share was US$  31.38 cents.   No dividends were declared for the quarter.

On Monday, Chuan Hup' s counter closed trading up 2.99 per cent at S$0.345.

Profit for the year

46,535  (7.4%)

  http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_6C466715CD7BAF4248257A560032D25D/$file/CHHFullYear.FY2012announcement.pdf?openelement