Ho Bee Land warns of wider losses for FY23

The company will release its FY23 results on or before 26 February.

SGX-listed Ho Bee Land Limited warned shareholders of a wider net loss for FY23.

In a bourse filing, the real estate company attributed the expected increase in net losses to “fair value loss based on indicative valuations of the group’s portfolio of investment properties in London.”

The company said the fair value loss of its London portfolio is non-cash in nature and arose mainly due to higher capitalisation rates.

Ho Bee Land will release its unaudited FY23 results on or before 26 February.

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