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

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.