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GSH reports 28% increase in FY19 earnings

SINGAPORE (Feb 26): GSH Corporation, which develops properties and run resorts, has reported a 28% y-o-y growth in earnings to S$7.6 million for the year ended Dec 31, 2019. 

Revenue, in the same period, was up 53.3% to S$153.7 million, as the company recognised progressive sales from its two residential development projects — Eaton Residences in Kuala Lumpur and Coral Bay in Kota Kinabalu.

For 4QFY2019, the company’s revenue more than doubled to S$50.4 million, with contributions from the property businesses.

However, GSH reported a loss of S$1.3 million for the quarter, as it wrote down goodwill of S$13.7 million in an associate company that has...(click on link for full story on theedgesingapore.com)

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