The Business Times
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Hafary gains from property boom, but higher interest rates may weigh on earnings

Raphael Lim

Raphael Lim

Published Thu, Jul 7, 2022 · 09:23 PM
    • The Hafary Gallery, located in Eunos, showcases over 4,000 of surfacing materials and bathroom wares and fittings sourced from around the world. The company invested in a revamp of its showroom to showcase the use of large-format porcelain tiles.
    • The Hafary Gallery, located in Eunos, showcases over 4,000 of surfacing materials and bathroom wares and fittings sourced from around the world. The company invested in a revamp of its showroom to showcase the use of large-format porcelain tiles. PHOTO: HAFARY

    EVEN through the Covid-19 pandemic and lockdowns, residential property prices in Singapore have consistently trended higher.

    The booming property market benefits suppliers in the ecosystem, and players such as mainboard-listed Hafary Holdings have recorded a growth in earnings over the past year.

    Its valuations appear undemanding, and the company, which supplies building materials such as marble and stone, has opportunities for continued growth. But there are potential risks for the stock in this rising-interest-rate environment.

    Singapore propertyConstructionInterest rates

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