Ho Bee Land’s Founder And Executive Chairman Chua Thian Poh Ups Stake Company
in 2013
The founder and executive chairman of Ho Bee Land, Chua Thian Poh, has been steadily increasing his ownership in the company through Ho Bee Holdings since May this year. As of June 5th, Chua has acquired a total of 366,100 shares at an average price of $1.783 per share, bringing his total stake in the company to 75.682%. This latest purchase of 137,900 shares, for $248,220 or $1.80 per share, was made via a market transaction.
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Chua’s deemed interest after the transaction includes 500.06 million shares held directly by Ho Bee Holdings, 1.41 million shares held directly by Kingdom Investment Holdings (in which Ho Bee Holdings has a 96% stake), and 1.067 million shares held by Chua’s spouse, Ng Noi Hinoy. Together, these holdings make up a significant portion of the company’s total shares.
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 on two separate occasions. Ng, who is Chua’s spouse and Nicholas’ mother, also acquired 16,800 shares from the market in April. These purchases demonstrate the continued confidence of the Chua family in Ho Bee Land.
Ho Bee Land reported earnings of $109.6 million for the fiscal year 2024, up from a loss of $259.8 million in the previous year. This was attributed to higher revenue and divestment gains. As of December 31, 2024, the company’s net asset value per share was $5.56.
It is worth noting that Chua’s stake in the company was at 75.6% before the purchases began in May, indicating a growing interest and belief in the potential of Ho Bee Land. With a solid financial performance and the support of its founder and executive chairman, Ho Bee Land is poised for future growth and success.