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Ho Bee Q2 earnings down 53% on absence of disposal gain

It posts solid rental income from investment properties

HO BEE Land's second- quarter net profit dived 53.5 per cent year-on-year to S$12.20 million. But behind the headline numbers, its transformation into a group with a substantial investment property portfolio providing recurring-income ballast is starting to show in its latest report card.

Rental from the group's industrial and commercial properties jumped to S$25.7 million in Q2 ended June 30, from S$2.8 million in Q2 2013 - mainly from rentals of office buildings ie, The Metropolis in Buona Vista,...

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