Feb 25, 2021

​ The Edge Singapore Published on Wed, Feb 24, 2021 / 7:01 PM GMT+8 / Updated 5 hours ago A- A+ Hotung Investment Holdings has reported earnings of NT$521.5 million ($24.7 million) for the year ended Dec 31 2020, up 70% from NT$307.6 million in the preceding FY2019. Revenue in the same period doubled to just over NT$1 billion, from NT$498.1 million in the same period.The better numbers were due to fair value gains on financial assets, dividend income from investments. On the other hand, the company suffered from unfavourable foreign currency movements, which resulted in it booking losses of NT$164.7 million from this item.The company’s investment activities are conducted primarily via these three units: Hotung Venture Capital Corp (Taiwan); Daitung Development and Investment Corp (Taiwan) and Huitung Investments (BVI). The company aims to achieve significant long-term capital appreciation by investing in a balanced and well-diversified portfolio, and assisting and adding value to the portfolio of companies.Hotung’s fund management is done via a subsidiary called Hotung International Co, with the main objective of providing investment consultancy and advisory services to entities within the group. Get the latest Singapore corporate news stories for FREE This field is required According to Hotung in its earnings commentary, it expects the economic downturn caused by the Covid-19 pandemic to continue, though partly mitigated by the progressive rollout of vaccines.Its portfolio of investments are in relatively “resilient sectors” such as 5G and cloud computing. The company plans to pay a dividend of NT$4.02484 per share (19 Singapore cents), versus NT$2.558 per share paid for FY2019.As at Dec 31 2020, the company’s net asset value was NT$64.61, or $3; versus NT$63.41, or $2.85 as at Dec 31 2019.Hotung shares closed on Feb 24 at $1.71, up 0.59%. Unlimited access to all stories from $99.9/year* The latest reporting and analysis from business and investments to news and views on social issues. Bonus: