Ho Bee Land’s Founder And Executive Chairman Chua Thian Poh Ups Stake Company
Ho Bee Land’s founder and executive chairman, Chua Thian Poh, has been gradually increasing his stake in the company through Ho Bee Holdings since May of this year.
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Since May 14, Chua has purchased a total of 366,100 shares for a total of $652,763, at an average price of $1.783 per share. His most recent purchase was on June 5, when Ho Bee Holdings acquired 137,900 shares for $248,220, or $1.80 per share, through a market transaction.
This latest purchase has brought Chua’s total stake in the company to 75.682%, up from 75.66% previously. His deemed interest now includes 500.06 million shares held directly by Ho Bee Holdings, 1.41 million shares held directly by Kingdom Investment Holdings, and 1.067 million shares held directly by Chua’s spouse, Ng Noi Hinoy. Kingdom Investment Holdings is 96% owned by Ho Bee Holdings, in which Chua holds an 82.5% stake.
On June 4, Chua, through Ho Bee Holdings, also purchased a further 54,100 shares through the market, for $98,668, or $1.824 per share. This transaction increased Ho Bee Holdings’ stake in the company to 75.66%, up from 75.653%.
Before the recent purchases starting on May 14, Chua held a 75.6% stake in the company.
In April, Chua’s son, Nicholas Chua, who is also the executive director and CEO of Ho Bee Land, purchased a total of 158,000 shares through the market, on two separate occasions. On April 17, Nicholas Chua bought 45,000 shares at $1.78 per share, and on April 15, he purchased 113,000 shares at $1.77 per share.
On April 4, Ng, who is also Nicholas’ mother, also purchased 16,800 shares through the market, at $1.78 per share.
For the financial year ended Dec 31, 2024, Ho Bee Land reported earnings of $109.6 million, a significant improvement from its loss of $259.8 million in the previous year. This increase in profit was mainly due to higher revenue and gains from divestment activities.
As of Dec 31, 2024, the company’s net asset value (NAV) per share stood at $5.56.
This story first appeared on The Business Times.