Ho Bee Land Limited (SGX: H13) is an SGX-listed mid-sized property company. Established in 1987, it has property investments and developments in Singapore, the United Kingdom, Australia, China, and Germany.
In this article, we take a closer look at its operations, finances, and assets to determine if its share price’s large discount to the book value can be of something that value investors can exploit.
Overview
Ho Bee’s main business activities include developing residential and commercial projects for sale and holding investment properties for rental income.
Under property development, the group is best known as the biggest developer which built several high-end condominiums, terrace houses, and luxurious villas at the Sentosa Cove. It also has projects in China (Shanghai, Tangshan, Zhuhai) and Australia (Melbourne, Gold Coast) as joint ventures with local companies.
The group has a growing portfolio of investment properties in the commercial space as a recurring income generator. The...