Chuan Hup Holdings has reported net profit of US$2.1 ($2.67) million for the half-year ended Dec 31, 2025. This represents a y-o-y increase of US$1.5 million or an improvement exceeding three times.

 

The company attributes the stronger performance to disposal gains of investment securities of US$0.8 million and a higher share of results from an Australian joint venture of US$3.7 million following the completion of a property development project. This was partially offset by lower mark-to-market gains recognised on the company&rsquo s investment securities of US$1.4 million.

 

Earnings per share rose 109% y-o-y from 0.11 US cents to 0.23 US cents, while revenue increased y-o-y by 32% from US$2.7 million to US$3.6 million, mainly due to the afore-mentioned securities disposal gain.

 

Chuan Hup&rsquo s cash holdings increased more than 130% y-o-y from nearly US$14 million to US$32.4 million.

 

No interim dividend has been declared. The directors of Chuan Hup say that due to the uncertain global economic outlook arising from geopolitical tensions, the company will continue to be prudent when considering new investments.

 

 

Chuan Hup Holdings has reported earnings of US$1.97 million ($2.56 million) for the FY2024 ended June 30, down 66.0% compared to its earnings of US$5.79 million in the same period last year. 

 

Earnings per share for the full-year period also shrank to 0.21 US cents from 0.63 US cents in FY2023. 

 

The decrease in net profit was mainly due to recognition of the one-off legal claim of US$1.9 million upon receipt of court judgement by a subsidiary of the group in FY2024. 

 

This came alongside lower mark-to-market gains recognised on the group' s investment securities by US$1.5 million and impairment loss recognised for the intangible assets relating to the group' s student accommodation business of US$0.6 million in FY2024. 

 

That said, the group was able to record a revenue of US$7.24 million in FY2024, up 47.4% y-o-y, from the additional rental income of US$1.6 million from its student accommodation business. 

 

Chuan Hup also recorded an increase in gains from investment trading of US$1.2 million in FY2024, partially reduced by decrease in sales of development properties of US$0.6 million.

 

Gross profit in FY2024 stood at US$2.36 million, down 62.5% from US$6.28 million. 

 

Meanwhile, the group&rsquo s total assets increased by US$10.1 million to US$254.7 million as at June 30. This non-current assets of US$14.5 million was mainly due to the increase in loans to joint ventures for development projects in Australia of US$11.4 million and increase in investment properties recognised in relation to the student accommodation premises of US$3.1 million. 

 

The group&rsquo s total liabilities for the reporting period had increased by $17.3 million from June 30, 2023 mainly due to the increase in borrowing of USD 13.0 million resulting from the drawdown of loan for acquisition of a property in Singapore. 

 

The increase in lease liabilities was due to the new leases and renewal of leases in relation to the student accommodation business of $3.1 million. 

 

Chuan Hup Holdings C33 -3.47% has reported earnings of US$380,000 ($507,500) for its 1HFY2024 ended Dec 31, 2023, down 73.8% compared to its earnings of US$1.45 million in the same period last year.

 

Earnings per share (EPS) for the half-year period also shrunk to 0.04 US cents compared to 0.16 US cents in 1HFY2023.

 

The decrease in net profit was mainly due to the absence of the US$1.6 million gain on the acquisition of Finbar Group' s shares in 1HFY2023 and higher depreciation and amortisation expenses recognised in relation to the student accommodation business of US$0.7 million in 1HFY2024.

 

The company was, however, able to record a revenue of $3.7 million in 1HFY2024, up 46.0% y-o-y, from the additional rental income of US$0.9 million from its student accommodation business acquired in May 2023.

 

Chuan Hup also recorded an increase in gains from investment trading and interest income of US$0.9 million in 1HFY2024.

 

As at Dec 31, 2023, cash and cash equivalents stood at US$26.6 million

 

The surge was due to changes in the fair value of the group&rsquo s investment securities. 

Chuan Hup Holdings C33 has reported earnings of US$5.79 million ($7.85 million) for its FY2023 ended June 30, up 192.3% compared to its earnings of US$1.98 million in FY2022.

 

The earnings surge was due to changes in the fair value of the group&rsquo s investment securities, which improved to a gain of US$1.54 million compared to its loss of $3.38 million in FY2022.

 

In FY2023, revenue fell by 68.8% y-o-y to US$4.91 million, while property development expenses decreased by 94.6% compared to FY2022.

 

Earnings per share (EPS) for FY2023 tripled to 0.63 US cents, compared to 0.21 cents in the previous year.

 

Chuan Hup has declared a dividend of 1 Singapore cent per share for FY2023.

 

As at June 30, cash and cash equivalents stood at US$42.7 million, a 38.9% y-o-y decrease.

 

Chuan Hup Holdings C33 0.00% , on May 8, announced that it has completed its acquisition of 51% of the total shares in Homestead Capital.

 

Homestead Capital is a newly-incorporated investment holding company that holds all the paid-up shares in Homestead KS. Homestead KS is a company that holds, leases, operates and manages properties for the student accommodation business.

 

Under the terms of the acquisition, Chuan Hup acquired 408 shares, or 7.7% of the total shares in Homestead Properties, Homestead Capital&rsquo s sole shareholder, for $800,000. It also subscribed to 2,295 shares, or 43.3% of the total shares in Homestead Capital, for $4.5 million.

 

According to Chuan Hup, the transaction will enable the company to expand its property-related business and capture the opportunities in the rising demand for student accommodation and leasing. The transaction is considered to be in the ordinary course of the company&rsquo s business.

 

The net tangible asset (NTA) of Homestead KS is $388,528, based on the audited financial statements as at Dec 31, 2022.

 

The sum was paid in cash and is funded through internal resources. It is not expected to have any material impact on the company&rsquo s NTA per share and earnings per share (EPS) for the FY2023 ending June 30.

 

Chuan Hup Holdings C33 0%   has reported earnings of US$1.5 million ($1.9 million) for the 1HFY2023 ended Dec 31, 2022, 8.01 times higher than earnings of US$181,000 in the corresponding period the year before.

 

The earnings surge was due to the higher share of results of associates, which surged 362.6% y-o-y to US$2.3 million due mainly to a one-off gain. The gain was recognised in relation to the excess of the group' s share of an associate' s identifiable assets and liabilities over the consideration paid for the acquisition of additional interests in Finbar Group Limited.

 

During the period, revenue fell by 78.6% y-o-y to US$2.5 million due to lower revenue from the group&rsquo 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.

 

As at end-December, cash and cash equivalents stood at US$38.2 million.

Recruitment company HRnetGroup : CHZ +0.64% bought back 337,700 of its shares between Dec 23 and 29 for a total consideration of S$262,739.34, or an average of S$0.78 per share.

 

On Dec 23, it bought 100,000 of its shares at S$0.77 each for a total consideration of S$77,198.10.

 

It also bought 20,000 shares at S$0.775 each on Dec 28, and 217,700 shares at S$0.77885 each on Dec 29.

 

The company paid total consideration of S$15,549.80 and S$169,991.44, respectively, for the latter two share buybacks.

 

On Dec 28, HRnetGroup said its branch in Taiwan has secured a capital injection of S$1 million. It has also secured a recruitment licence for expansion into Kaohsiung in Taiwan &ndash its 15th city of operation.

 

The money is being used to fund the increased working capital requirements of the subsidiary, RecruitFirst Taiwan, and its branches in Taipei and Kaohsiung, the company said.

 

Shares of HRnetGroup ended Dec 30 at S$0.785, up 1.3 per cent for the week.

Mainboard-listed property investment company Chuan Hup : C33 0% bought back a total of 1.1 million shares for a total of S$242,696.54, or about S$0.2192 per share on average, over the period.

 

On Dec 23, the company bought 240,000 shares at S$0.215 each for a total consideration of S$51,688.70.

 

On Dec 27, it bought 143,500 shares at S$0.21976 each for a total consideration of S$31,592.24.

On Dec 28, it bought 160,000 shares at S$0.21969 each for a total consideration of S$35,210.95.

 

And on Dec 29, it bought 563,600 shares at S$0.22 each for a total consideration of S$124,204.65.

 

Chuan Hup on Dec 23 said its wholly owned Australian subsidiary Ventrade Australia entered into a 70-30 joint venture with an associate of Australian property developer Siera Property Group.

 

The joint venture plans to acquire a 1,214 square metre development site in Queensland, Australia for A$16 million, to develop an 11-storey residential building comprising 19 residential apartments.

 

Chuan Hup &ndash which has a portfolio of properties across Singapore, Australia and the Philippines &ndash expects the joint venture will allow it to capture opportunities with the rising demand for residential property in Queensland.

 

Shares of Chuan Hup closed at S$0.22 on Dec 30, up 2.3 per cent over the course of the week. The stock trades at 0.649 times its book value.

OVER the four trading sessions that spanned Dec 23 to 29, the Straits Times Index (STI) fell 0.6 per cent. The Singapore market was closed on Dec 26 for the Christmas holiday.

 

Over the same period, the FTSE Bursa Malaysia KLCI was up 0.8 per cent, the Hang Seng Index gained 0.3 per cent, and the Nikkei 225 lost 1.6 per cent.

 

Over the four trading sessions, there were 50 filings for changes in director interests and substantial shareholdings filed by 26 primary-listed stocks, as well as 49 filings for share buybacks by 20 companies.

Chuan Hup Holdings&rsquo wholly-owned Australian subsidiary, Ventrade Australia, has entered into a joint venture (JV) with BHHP17 Pty Ltd to acquire and develop a site located at 303 Golden Four Drive, Bilinga, Queensland. Both companies have established a JV company (JVCo) named SG17.

 

BHHP17 is an associated company of boutique residential property developer and builder, Siera Property Group.

 

SG17 has an initial and paid-up capital of A$100 ($90.63) split into 100 ordinary shares. It will be engaged in the business of multi-resident residential property development projects in South-East Queensland. Ventrade Australia and BHHP17 each have a 50% stake in SG17.

 

According to Chuan Hup Holdings, the board believes that the JV will enable the group to &ldquo capture the opportunities with the rising demand for residential property in Queensland, Australia&rdquo .

 

The development site has direct access to the beach and is well located across the southern beaches of Gold Coast, in Queensland.

 

The JVCo, SG17, will acquire a 1,214 sqm (13,067.39 sq ft) at 303 Golden Four Drive, Bilinga, Queensland for a purchase price of A$16 million, excluding government taxes. The property comes with obtained approval to build an eleven-storey residential building comprising 19 residential apartments.

 

Through the JVCo, Ventrade Australia and BHHP17 Pty Ltd will share the net profit in the ratio of 70:30, where the profits to be distributed to Ventrade Australia may be in the form of dividends or interest payments on finance provided.

 

CHUAN Hup Holdings on Wednesday (Dec 22) said its subsidiary will enter a joint venture (JV) to acquire a 964 square metre land site located in Queensland for A$7.6 million (S$7.4 million) and develop it.

 

The wholly-owned subsidiary, Ventrade Australia, will take a 50 per cent stake in the JV company SG15 Pty Ltd, making the JV company an associate of Chuan Hup, the group said in a statement. It will partner with an associated company of Siera Group, BHHP15 Pty Ltd.

 

Located at 3 Vista Street Surfers Paradise, the site will be developed into a mixed-residential tower comprising approximately 60 residential apartments across 20 levels. The site is adjacent to Surfers Paradise Beach in Queensland, Australia and situated on the southern end of Surfers Paradise on the border of Broadbeach.

 

Ventrade Australia will contribute 100 per cent of the initial working capital of SG15, while Siera will provide development management services for the land' s development and will receive a management fee from SG15.

 

Ventrade Australia and BHHP15 will share the net profit of the JV in the ratio of 70:30, where the profits to be distributed to Ventrade Australia may be in the form of dividends or interest payments on finance provided.

 

The JV is not expected to have any material impact on the net tangible assets per share or earnings per share of the Chuan Hup for the financial year ending June 30, 2022, the group said.

 

Chuan Hup said it believes that the JV is a good opportunity for the group to venture into another residential property development project in Queensland.