SINGAPORE (Feb 28): Ho Bee Land reported earnings of $267.6 million for 4QFY2019 ended December, a threefold increase from earnings of $81.4 million in the corresponding quarter last year. 

This lifted the group’s full-year earnings to $332.3 million, some 23.1% higher than earnings of $270 million in FY2018. 

The increase in earnings for the quarter was attributable primarily to a 4.2% increase in rental income to $53.7 million from $51.5 million, although this was partially mitigated by a 35.2% decline in the group’s sale of development properties to $0.6 million.  

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