Singapore Exchange-listed Alset International announced that for FY2020, the Group’s other income increased substantially by S$69.0 million (US$52.0 million) to S$70.2 million (US$ 52.9 million).

This was driven mainly by a S$67.1 million (US$50.5 million) gain on disposal of Impact Biomedical, the Group’s biomedical arm.

The transaction was completed via a US$50 million share swap with NYSE-listed Document Security Systems Inc. on 24 August 2020.

ChanHengFai coyChan Heng Fai, Executive Chairman of Alset. Photo: CompanyRevenue for the group posted a 24.0% year-on-year decline to S$23.4 million (US$17.6 million), mainly attributable to a decline in revenue generated from the Ballenger Run project in Washington, Maryland to S$21.2 million (US$16.0 million), and nil revenue from the Group’s Lakes at Black Oak project in Houston, Texas as it is currently undergoing redevelopment.

As a result, the Group recorded a net profit attributable to shareholders of S$59.7 million (US$45.0 million) for FY2020 compared to a net loss of S$13.6 million (US$10.2 million) in 2019.

Stock price 

6.5 c

52-week range

2.6 – 13.8 cts

Market cap

S$115 m



Dividend yield 


1-year return


Shares outstanding

1.77 b

Source: Yahoo!

Cash and cash equivalents amounted to S$22.4 million (US$16.9 million) as at end-December 2020 (31 December 2019: S$3.9 million (US$2.9 million)).

The Group remains in a net cash position of S$21.3 million (US$16.0 million) as at 31 December 2020 (31 December 2019: S$3.7 million (US$2.8 million)).

Building Sustainable Healthy Living System
The Group over the years has built up an eco-system of businesses based around sustainable living for its first-of-its-kind sustainable healthy living community.

Driven by its wholly-owned property land development subsidiary, Alset EHome Inc., the Group intends to develop Alset EHomes.

These are eco-friendly single-family homes fully fitted with sustainable transport, living and energy systems including solar systems and energy storage as well as electric cars utilising a vehicle-to-grid concept, amongst others.

Infrastructure works have started for this sustainable healthy living community project and Alset intends to develop proof-of-concept Alset EHomes within its Black Oak community development plot.

Apart from Black Oak, the Group intends to bring this concept to other parts of the US as well as markets abroad.

“Having built up our sustainable healthy living ecosystem for a number of years now, we are on the cusp of revolutionising the way we live, work and play. Supported by our extensive and successful track record in property development, we harness the necessary skillsets, expertise, network and production capabilities to provide high quality designer homes with integrated smart technologies at affordable prices.” Alset Executive Chairman Chan Heng Fai said.

“Driven by our vision to establish ourselves as the most prominent home builder of the future, we have made it our mission to lead the world’s transition and accelerate the advent of sustainable healthy living systems globally.”

Situated on approximately 136 acres of land, the Black Oak plot has been subdivided into over 600 buildable lots.

All lots will be completed with full infrastructural works and recreational facilities such as parks and walking trails. At present, Phase 1 – comprising a total of 124 lots – has been sold to Rausch Coleman Homes, while the balance 550 lots will be set aside for the development of Alset EHomes.

For more information on Alset EHomes, please visit:

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