The higher net losses were attributed mainly to the fair value loss based on indicative valuations from the group’s investment properties in London. The fair value loss is non-cash in nature and came about due to higher capitalisation rates, says the group.
Ho Bee Land will release its results for the 2HFY2023 and FY2023 after trading hours on Feb 26.
Shares in Ho Bee Land closed flat at $1.77 on Jan 11.
