Property developer Ho Bee has reported a 62 percent drop in first quarter net profit to S$26 million. Its revenue also fell 62 percent to S$94 million. Ho Bee said this was mainly due to the lower recognition of revenue from a property development project, The Coast at Sentosa Cove. The company also noted that the global economic and financial uncertainties caused by the US sub-prime crisis will continue...
Ho Bee
A robust property market and a strong economy have helped developer Ho Bee to report record full-year earnings. Net profit jumped 176 percent on year to S$272 million. This was achieved on the back of record revenues of S$596 million, up 52 percent on year. Ho Bee's development properties reported higher sales due to the progressive recognition of income from its residential projects, including those at...