Oxley acquiring Ampas Apartment for $95 mil in collective sale

Oxley acquiring Ampas Apartment for $95 mil in collective sale

By: 
PC Lee
27/03/18, 10:16 pm

SINGAPORE (Mar 27): Oxley Holdings is acquiring the property known as Ampas Apartment from the respective owners of the units in a collective sale.

On Tuesday, subsidiary Oxley Jasper exercised the option to purchase all the units in the development at 5 Jalan Ampas for $95 million.

Taking into account the development charge payable, the acquisition cost will amount to approximately $1,073 psf ppr, inclusive of balcony area.

The property is a freehold property with a land area of approximately 2,809.3 sqm.

Oxley intends to redevelop the property into a residential development with no less than 26 storeys, with a plot ratio of no less than 2.8 and gross floor area of no less than 7,866.04 sqm.

Oxley says the purchase price of $95.0 million was arrived at after taking into account current market prices of properties in the surrounding area and the company‘s assessment of the property’s redevelopment potential.

The purchase will be funded by internal resources and bank borrowings.

Shares in Oxley closed at 51 cents on Tuesday.

Winners and losers from Singapore's budget as election looms

SINGAPORE (Feb 19): Singapore Finance Minister Heng Swee Keat boosted health-care and military spending, gave tax rebates to citizens and tightened rules on foreign workers ahead of an election that could come as early as this year. Heng announced a new $8 billion support package for seniors in his budget speech on Monday, as well as measures to help local businesses adopt new technologies. The expansionary fiscal plan will push the overall budget deficit to 0.7% of gross domestic product in the year ending March 2020, from a revised surplus of 0.4% this year. The finance minister opened....
Read More >>

Sasseur REIT FY18 DPU exceeds IPO forecast by 12.6%

SINGAPORE (Feb 18): The manager of Sasseur REIT announced a 4Q18 DPU of 1.999 cents, 28.1% higher than forecast. This also brings 2H18 DPU to 3.541 cents and FY18 DPU to a total of 5.128 cents. Sasseur REIT offers investors the unique opportunity to invest in the fast-growing retail outlet mall sector in China through its initial portfolio of four quality retail outlet mall assets. 4Q18 distributable income came in at $23.6 million, 28.1% higher than forecast while EMA rental income came in 1.6% higher than forecast at $31.2 million. Based on the Feb 18 closing unit price of $0.71,....
Read More >>

DBS chief sounds cautious note, but expects modest growth this year

SINGAPORE (Feb 18): Looking to the future, DBS CEO Piyush Gupta sounded a cautious note. For one, mortgage bookings have fallen by 30% to 40% since additional cooling measures were announced in July last year, he said. However, loan growth should continue and is likely to come from the corporate sector. See also: DBS reports 8% rise in 4Q earnings to $1.32 bil; brings FY18 earnings to new record high “We guided for mid-single digit loan growth and we are keeping to this loan growth estimate. I anticipate we will still see choppy markets and macro-economic slowdown,” Gupta says. Among....
Read More >>