Category Archives: Funds

Ho Bee Q1 net profit up 230%

Posted on 30 Apr 2013 | Comments Off on Ho Bee Q1 net profit up 230%

Ho Bee Investment’s first quarter net profit more than tripled to S$52.1 million, clocking a 230 per cent increase.

The property developer attributed the jump to the disposal of its long term investment in Chongbang Holdings (International).

Group turnover for the first quarter rose 68 per cent to S$60.8 million, due mainly to the higher recognition of revenue from property development.

Revenue from the group’s property development increased 75 per cent to S$58.1 million.

This was attributed to higher revenue recognition from its residential project, Trilight, and industrial project, One Pemimpin.

Ho Bee expects the group’s earnings for 2013 to be positive and added that the firm continues to look for investment and development opportunities, especially overseas.

Source – CNA – 23 Apr 2013

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CapitaLand up after strong Q1 result

Posted on 29 Apr 2013 | Comments Off on CapitaLand up after strong Q1 result

CapitaLand shares rose for the fourth session in a row, to the highest in nearly two months, after the biggest property developer in Southeast Asia reported a 41% rise in first-quarter net profit.

CapitaLand shares jumped as much as 3.3% to $3.77, the highest since March 7. More than 13 million shares were traded, 1.1 times the average full-day volume over the past 30 days. It was the top traded stock by value in the Singapore market on Monday.

CapitaLand posted net profit of $188.2 million for the three months ended March, up 41.2% from a year earlier, lifted by strong home sales in Singapore and China as well as contribution from its shopping mall arm.

CapitaLand’s sharpened focus on Singapore and China is likely to underpin its growth, Maybank Kim Eng said, adding that the company is ramping up sales to meet homebuyers’ demand and it also has a healthy pipeline of projects.

The broker said with a net gearing of 0.44 times and $5.4 billion in cash, CapitaLand remains well-capitalised to capture growth opportunities. A possible sale of its stake in Australand Property Group could also return more capital, it said.

Maybank raised its target price on the stock to $4.33 from $4.30 and maintained its ‘buy’ rating.

Source : TheEdge – 29 Apr 2013

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