UOB Kay Hian analysts Loke Peihao and Nicola Ho have maintained their “buy” call on Oxley Holdings with a lower target price of 37 cents from 48 cents previously.

The lower target price is “pegged at 30% discount to net asset value (NAV) of 52 cents/share (previously 69 cents) which has declined due to the large impairments,” say Loke and Ho.

The recommendation comes after the group registered a $296.3 million loss for 2H20 ended June on August 28.

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