Hor Kew Reports Increased Profits After Audit

Hor Kew Corporation Limited (SG:BBP) has released an update.

Hor Kew Corporation Limited has reported material differences between its unaudited financial results and the subsequent audited financial statements for the fiscal year ended December 31, 2023. The audited reports reflect an increase in profit before tax and a significant reduction in tax expense, resulting in a higher profit for the year than initially announced. These adjustments were primarily due to increased rental income and the recognition of deferred tax assets for a newly profitable subsidiary.

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