The Business Times

ho bee land

Companies & Markets

Ho Bee Land posts 50% fall in H2 net profit to S$50.4 million

Earnings per share stood at S$0.0759 for H2, down from S$0.1517 a year prior

The declines in earnings followed the deconsolidation of biomedical and life sciences hub Elementum, alongside lower contributions from rental income and settlements of the group’s development properties.
Companies & Markets
HOT STOCK

Ho Bee Land sinks 6.4% to one-month low on lower H2 profit

The property player ended the day at its intraday low of S$2.34

Amazon's lease is for about 100,000 sq ft on three mid-level floors in Asia Square Tower 1 (centre).
Property
SINGAPORE PROPERTY

Amazon to exit Asia Square; Shell likely to take over its prime CBD space

The tech giant’s lease for 100,000 sq ft in Tower 1 is said to be expiring in July

Li Xiangrun previously spent a decade at BNP Paribas, where he served as director of real estate investment banking for Asia-Pacific.
Companies & Markets

Ho Bee Land appoints Li Xiangrun as new CFO

He joined the property developer in June 2023

The developer says the purchase is in line with its strategic objective to secure large-scale, long-term land banks in key Australian markets.
Companies & Markets

Ho Bee Land acquires Queensland development site for A$318.5 million

Counter hits 52-week high at market open on Monday, after the news

The sites are expected to yield around 1,079 residential lots.
Companies & Markets

Ho Bee Land acquires five Australian residential sites for A$96.6 million

The developments will be financed by the company’s internal funds and bank borrowings

Revenue for the first half falls 23% to S$177.7 million from S$230 million the year before. 
Companies & Markets

Ho Bee Land H1 net profit increases over four times to S$49.8 million 

No dividend is declared for the period, unchanged from previous year

The company’s shares ended up 5% or S$0.09 at S$1.89 on Monday.
Singapore
HOT STOCK

Ho Bee Land shares surge after Chua Thian Poh buys spark talk of privatisation plan

Founder Chua and his son Nicholas, who is CEO, have been picking up shares in last few months

Ho Bee Land reported a net profit of S$109.6 million for FY2024, driven by the growth of development property sales in Australia and contributions from the sale of a 49% stake in landmark biomedical life-sciences development Elementum (above).
Property

Is Ho Bee Land privatisation back on cards with founder Chua Thian Poh raising stake?

He raises his stake in the tightly held company to around 75.68%, from 75.66%

In January, Ho Bee Land launched a non-binding indicative offer to acquire all the shares it does not indirectly own in AVJennings for A$0.70 apiece.
Companies & Markets

Ho Bee Land drops AVJennings bid; Australian property developer to be acquired by US fund

The scheme consideration has been reduced by A$0.015 to A$0.655 a share

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