Between March 23 and 24, Ho Bee Land executive director and COO Ong Chong Hua acquired 140,000 shares of the company for a consideration of S$342,794.

 

At an average price of S$2.45 per share, this took his total interest in the real estate developer and investor from 0.27 per cent to 0.29 per cent.

 

Mr Ong works closely with the group chairman and CEO, Chua Thian Poh, in charting the group' s investment, development and marketing strategies.

 

He is also responsible for all operational aspects of the group' s businesses in Singapore and overseas and has more than 30 years of experience in the real estate sector.

 

Also on March 23, Ho Bee Holdings acquired 15,000 shares of Ho Bee Land for a consideration of S$36,336 at an average price of S$2.42 per share.

 

Mr Chua maintains a 75.47 per cent deemed interest in Ho Bee Land. He is also the founder of the group, which began work on its first residential property development in 1987, the first property in an ambitious portfolio that will come to include many icons and landmarks.

 

On March 17, Ho Bee Land announced that its wholly-owned subsidiaries, HB QLD Pty Ltd and HBL VIC Pty Ltd had separately acquired three residential development sites in Australia.

 

On Dec 31, 2020, Ho Bee Holdings (Pte) Ltd acquired 49,300 shares of Ho Bee Land for a consideration of S$118,268, at an average price of S$2.40 per share.

 

This took the deemed interest of Chua Thian Poh, chairman and chief executive officer (CEO) of Ho Bee Land and founder of the Ho Bee Group, from 75.46 per cent to 75.47 per cent.

 

The acquisition followed Ho Bee Holdings acquiring 77,300 shares at S$2.38 per share on Dec 29, 2020, and 253,800 shares acquired at S$2.37 per share on Dec 24, 2020.

 

Prior to the December transactions, Ho Bee Holdings had made two acquisitions of Ho Bee Land shares in October and two acquisitions in August.

 

Prior to August, Ho Bee Holdings maintained a 75.20 per cent interest in Ho Bee Land.

 

Mr Chua is responsible for the strategic planning and direction of Ho Bee Land, as well as its financial and investment decisions.

 

On Aug 13, 2020, Ho Bee Land reported a net profit after tax and non-controlling interests of S$90.6 million for the first half of its FY20 (ended June 30), representing a year-on-year increase of 115 per cent.

 

Mr Chua noted at the time that in the midst of the pandemic, Ho Bee Land was fortunate to have a portfolio of prime offices in Singapore and London, as these offices had remained 100 per cent occupied.

 

He also noted that the recurring income base contributed to the resilience of the group during the challenging times.

 

Based on past filings, investors expect the company to report its FY20 results at the end of February.

 

The real estate development and investment company has a portfolio that covers many quality residential, commercial and high-tech industrial projects.

 

On Aug 19, Ho Bee Holdings Pte Ltd acquired 185,800 shares of Ho Bee Land for a consideration of S$394,338 at an average price of S$2.12 per share. This took the total interest of Chua Thian Poh, the founder of Ho Bee Group, from 75.20 per cent to 75.23 per cent.

 

Appointed the chairman and CEO of the group in 1999, Mr Chua is responsible for its strategic planning and direction, as well as its financial and investment decisions.

 

MAINBOARD-LISTED developer Ho Bee Land' s net profit for the half-year ended June 30, 2020 was up 115.4 per cent to S$90.6 million on the back of increased profits from associates and jointly-controlled entities.

 

The share of profits from associates was S$31.3 million, compared with a loss of S$407,000 a year ago. The group recorded share of profits from the Shanghai and Zhuhai associates due to units that were sold prior to the pandemic. 

 

Share of profits from jointly controlled entities was S$3 million compared with a loss of S$2.3 million a year ago, mainly due to higher profits from the Seascape and Cape Royale developments in Sentosa Cove and the residential development project in Tangshan. 

 

Ho Bee Land' s revenue for the period inched up 1.7 per cent to S$108.8 million as rental income increased 2.2 per cent to S$107.3 million. The group saw positive rental reversions when leases were renewed for the investment properties in Singapore and London.

 

A gain of S$5.7 million in foreign exchange was recorded, compared with a loss of S$3.6 million previously.

 

Staff costs and directors' remuneration increased 38.2 per cent to S$10.4 million mainly due to the hiring of a new team based in Gold Coast, Australia since Q4 2019.

 

Earnings per share was 13.62 Singapore cents, compared with 6.32 Singapore cents a year ago.

 

Net gearing was 0.65 times as at June 30, 2020.

 

Ho Bee Land said that due to the pandemic, the business outlook is grim and uncertain as countries continue to be in a lockdown or partial lockdown mode and are susceptible to waves of infection outbreaks.

 

Chua Thian Poh, chairman and CEO of the group, said: " In the midst of the Covid-19 pandemic, we are fortunate to have a portfolio of prime offices in Singapore and London, as these offices remain 100 per cent occupied. Our recurring income base has contributed to the resilience of the group during these challenging times.&rdquo

 

MAINBOARD-LISTED developer Ho Bee Land on Monday announced that two of its subsidiaries have separately acquired a residential development site in Queensland, Australia, for a total of A$23.5 million (S$22.8 million). 

 

HB Doncaster had acquired a 47.41ha site located within the Riple Valley Priority Development Area for A$14.5 million. This project is expected to yield approximately 570 residential lots, a regional sports facility, and associated community facilities, said Ho Bee in a regulatory filing. 

 

The group noted that Ripley is a major growth corridor in south-east Queensland, 42km from Brisbane' s central businessdistrict and 15 km from Springfield Town Center. 

 

Another 8.98ha site acquired by HB QLD for A$9 million is currently in the final two stages of the Parklakes 2 development located on Queensland&rsquo s Sunshine Coast. The site has received all the required development permits and will yield 95 residential lots.

 

Ho Bee said Parklakes 2 is an established community with amenities such as a private school, extensive wetlands, walking trails and convenience retail. It is located 9.7 km from Sunshine Coast Airport and 11.7 km from Maroochy City Centre. 

 

These two projects will be financed by the group' s internal funds and bank borrowings, and are not expected to have any material impact on the group' s consolidated earnings and net tangible assets per share for the financial year ending Dec 31, 2020, said Ho Bee.

https://www.businesstimes.com.sg/companies-markets/ho-bee-land-acquires-two-residential-sites-in-australia-for-a235m