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Ho Bee Land's Q1 profit plunges 92.1% to $4.1m

Residential market still facing strong challenges, says CEO

HO BEE Land's first-quarter net profit tumbled 92.1 per cent to $4.1 million from $52.1 million a year ago. Revenue slid 71.9 per cent, from $60.8 million to $17.1 million, for the three months ended March 31. This was primarily due to a lack of recognition of revenue for development projects as