Heeton sees significant revenue share from hospitality

THE year 2018 has seen Heeton Holdings make steady strides into hospitality, and CEO Eric Teng believes that this segment can make up a "significant" part of its revenue share in the next few years, up from the 22 per cent in 2017.

In an interview with The Business Times, he acknowledges that shareholders have not displayed the most confidence in the company this year, with the share price down about 13 per cent to S$0.49 year-to-date, and hovering at a 60 per cent discount to its book value of S$1.3025 as at end-September.

Its hospitality division has been growing strongly, he says. Revenue contribution from the assets grew 31 per cent from S$9.83 million in 2016 to S$12.83 million in 2017, attributable mostly to the Luma-Hammersmith property in London, Heeton's pilot own-brand initiative that began operations in April 2017.