[Miser] [Miser] //
@Frisbee:Bearish on
$HO BEE LAND LIMITED(H13.SI)$. The company earnings for the second half of 2022 fall 93 per cent to S$16 million compared to S$225 million in H2 2021. On a per-share basis, earnings for the period under review came in at S$0.0241, down from S$0.3388 for the same period in 2021.Full year PATMI declined 50% to S$165.9 million due to fair value loss and higher interest cost. 3 warning signs: (1) Debt is not well-covered by operating cashflow as well as (2) dividends of 4.35% is not well covered. (3) Profit margins (34.9%) are lower than last year (85.2%).
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