Ho Bee Land - DBS Research 2022-08-12: More Than Just Recurring Income; Multiple Catalysts To Unlock Value

Ho Bee Land - More Than Just Recurring Income; Multiple Catalysts To Unlock Value

  • Ho Bee Land (SGX:H13)’s 1H22 revenues increased 13.3% y-o-y to S$178.3m on the back of higher contributions from both the property development and property investment segments.
    • Revenue from the property development segment increased ~S$6.2m (or 14.5%) y-o-y to S$49.6m, mainly due to the sales of more units at Turquoise in Sentosa Cove in 1H22. Although, we believe that the bulk of the sales at Turquoise has already been recognised in the past few quarters. Meanwhile, Ho Bee Land will begin recognising revenues from the sales at Cape Royale, also in Sentosa Cove.
    • Read this at SGinvestors.io -

EUR44.8m gains from divestment of Munich office property

  • Read this at SGinvestors.io -

S$16.0m in net fair value gains on investment properties

  • Read more at SGinvestors.io.

Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.

Dale LAI DBS Group Research | Derek TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-08-12

Price targets by other brokers at Ho Bee Land Target Prices.
Listing of research reports at Ho Bee Land Analyst Reports.

Relevant links:
Ho Bee Land Share Price History,
Ho Bee Land Announcements,
Ho Bee Land Dividends & Corporate Actions,
Ho Bee Land News Articles

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