Ho Bee Land Q4 net profit soars on fair value gains

Singapore

FAIR value gains on investment properties totalling S$243.7 million sent Ho Bee Land's net profit soaring for the fourth quarter ended Dec 31, 2019.

Q4 net profit rose more than three times to S$267.6 million from S$81.4 million a year ago, the property firm reported on Friday. The gains are largely attributable to the group's two largest investment properties in value: the Metropolis in Buona Vista, Singapore, and Ropemaker Place, London.