Ho Bee's profit drop masks strong rental income growth
Fourth-quarter and full-year earnings hit by lower fair-value gains and an impairment on Cape Royale
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Singapore
HO Bee Land posted lower net earnings for the fourth quarter and full year - due to lower fair-value gains on investment properties and an impairment loss on the group's stake in the completed Cape Royale condo on Sentosa.
What was more important perhaps is the significant rise in rental revenue the group achieved - from properties like The Metropolis in Singapore and a string of office blocks it has bought in London.
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