I wrote an article on Bukit Sembawang some time in March recently which you can find here. Bukit Sembawang has recently announced their full year 2019 results which impresses on earnings, with full year NOPAT increasing by 100% year on year despite taking a hit in their Q4 earnings.  On the topline, revenue and cost of sales increased by 265% and 451% respectively as compared to previous year. This resulted in Gross Profit increasing by 164% year on year.  This is attributed to the higher development sales for profits recognized from 8 St Thomas, Nim Collection Phase 1 and 2 and Watercove. Comparing to the previous year, majority of the profits were only recognized from Nim Collection Phase 1 and Watercove.  There is a huge impairment loss that they recognized in the 4th quarter which bumped up other operating expenses on properties relating to Fraser Residence Orchard and Makeway...