http://www.nextinsight.net/index.php/story-archive-mainmenu-60/924-2014/8354-gsh-corp-mah-bow-tan-ups-stake-far-east-is-new-major-shareholder

GSH said the property business will start contributing in the current financial year.

It did not specify which project but the only project that is mentioned for launch this year is the The Vista @ Sutera, a high-end residential condo development alongside the Sutera Harbour Resort.

The ocean-front project would be launched  in the second half of this year with a gross floor area of 1.3 m sq ft (net sellable area: 1.1 m sq ft).  

If sales turn lively, GSH will have a chance to justify the market cap of S$760 million that it currently commands. 

However, it is puzzling how GSH would be able to recognise revenue and profit from The Vista @ Sutera this year since overseas projects are only recognised upon completion -- instead of by the progressive method for residential projects in Singapore.

In any case, GSH needs to do much better than the US$1.2 million loss attributable to shareholders last year. 

Its 2013 revenue was US$89.4 million, a 12.9% decline year-on-year, and derived completely from its IT distribution business